ViaSat Hits New 12-Month Low After Earnings Miss (VSAT)
ViaSat (NASDAQ:VSAT) shares hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement, Analyst Ratings.Net reports. The company traded as low as $51.50 and last traded at $52.40, with a volume of 1,960,496 shares trading hands. The stock had previously closed at $57.26.
The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.10. The company had revenue of $319.50 million for the quarter, compared to the consensus estimate of $349.88 million.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC cut their price target on shares of ViaSat from $67.00 to $61.00 in a research note on Wednesday. They now have a “strong-buy” rating on the stock. Separately, analysts at Oppenheimer cut their price target on shares of ViaSat from $66.00 to $62.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Wunderlich cut their price target on shares of ViaSat from $50.00 to $48.00 in a research note on Wednesday. They now have a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.88.
In other ViaSat news, Director John P. Stenbit sold 3,100 shares of ViaSat stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $58.45, for a total transaction of $181,195.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
The stock has a 50-day moving average of $57.79 and a 200-day moving average of $61.65. The company’s market cap is $2.418 billion.
ViaSat, Inc is a provider of high-speed fixed and mobile broadband services, advanced satellite and other wireless networks and secure networking systems, products and services.
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