Viasat, Inc. (NASDAQ:VSAT) Expected to Announce Quarterly Sales of $716.03 Million

Equities analysts forecast that Viasat, Inc. (NASDAQ:VSAT) will announce sales of $716.03 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Viasat’s earnings, with the highest sales estimate coming in at $746.50 million and the lowest estimate coming in at $687.50 million. Viasat reported sales of $575.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 3rd.

According to Zacks, analysts expect that Viasat will report full-year sales of $2.82 billion for the current fiscal year, with estimates ranging from $2.77 billion to $2.88 billion. For the next financial year, analysts expect that the company will post sales of $3.16 billion, with estimates ranging from $2.90 billion to $3.53 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Viasat.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Monday, November 8th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $701.40 million for the quarter, compared to analysts’ expectations of $681.25 million. Viasat had a net margin of 1.36% and a return on equity of 1.37%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS.

Several research analysts recently weighed in on VSAT shares. Needham & Company LLC boosted their target price on Viasat from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 9th. Zacks Investment Research raised Viasat from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a report on Friday, October 8th. Morgan Stanley started coverage on Viasat in a report on Thursday, December 16th. They issued an “equal weight” rating and a $51.00 price target for the company. Finally, Raymond James lowered Viasat from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $70.00 to $62.00 in a research report on Tuesday, November 9th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $67.00.

NASDAQ VSAT traded up $0.05 on Friday, reaching $45.79. 242,824 shares of the stock traded hands, compared to its average volume of 297,852. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.45. The company has a fifty day moving average price of $47.33 and a 200-day moving average price of $50.66. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 95.40 and a beta of 1.15. Viasat has a 12 month low of $37.55 and a 12 month high of $68.76.

In other Viasat news, EVP Kevin J. Harkenrider sold 22,500 shares of the stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $61.54, for a total value of $1,384,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Johnson acquired 1,200 shares of Viasat stock in a transaction dated Wednesday, November 10th. The shares were acquired at an average cost of $55.05 per share, with a total value of $66,060.00. The disclosure for this purchase can be found here. 5.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in Viasat by 22.0% during the third quarter. IFP Advisors Inc now owns 1,110 shares of the communications equipment provider’s stock valued at $62,000 after purchasing an additional 200 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Viasat in the third quarter valued at about $65,000. First Mercantile Trust Co. acquired a new position in shares of Viasat in the second quarter valued at about $67,000. US Bancorp DE lifted its position in Viasat by 42.0% during the second quarter. US Bancorp DE now owns 1,402 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 415 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Viasat by 19.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,773 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Viasat Company Profile

ViaSat, Inc provides communications technologies and services. It operates through following segments: Satellite Services, Commercial Networks and Government Systems. The Satellite Services segment provides satellite-based high-speed broadband services with multiple applications to consumers, enterprises, and mobile broadband customers (including commercial airlines and maritime vessels) both in the United States and abroad.

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