RigNet (RNET) Scheduled to Post Earnings on Monday
RigNet (NASDAQ:RNET) will be posting its Q114 quarterly earnings results on Monday, May 12th. Analysts expect RigNet to post earnings of $0.27 per share and revenue of $66.26 million for the quarter.
RigNet (NASDAQ:RNET) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. The company had revenue of $59.70 million for the quarter, compared to the consensus estimate of $57.84 million. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, analysts expect RigNet to post $1.50 EPS for the current fiscal year and $1.78 EPS for the next fiscal year.
Shares of RigNet (NASDAQ:RNET) opened at 50.59 on Friday. RigNet has a 1-year low of $23.13 and a 1-year high of $59.06. The stock’s 50-day moving average is $51.45 and its 200-day moving average is $46.33. The company has a market cap of $872.2 million and a price-to-earnings ratio of 54.92.
RNET has been the subject of a number of recent research reports. Analysts at Oppenheimer raised their price target on shares of RigNet from $52.00 to $62.00 in a research note on Thursday, March 13th. They now have an “outperform” rating on the stock. Analysts at Jefferies Group raised their price target on shares of RigNet from $50.00 to $60.00 in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $53.35.
RigNet, Inc (NASDAQ:RNET) is a network infrastructure provider serving the remote communications needs of the oil and gas industry.
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