$386.93 Million in Sales Expected for ViaSat, Inc. (NASDAQ:VSAT) This Quarter
Brokerages expect ViaSat, Inc. (NASDAQ:VSAT) to report sales of $386.93 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for ViaSat’s earnings, with estimates ranging from $372.52 million to $396.78 million. ViaSat posted sales of $363.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The company is scheduled to report its next earnings report on Tuesday, August 8th.
On average, analysts expect that ViaSat will report full-year sales of $386.93 million for the current fiscal year, with estimates ranging from $1.63 billion to $1.66 billion. For the next financial year, analysts expect that the company will post sales of $1.90 billion per share, with estimates ranging from $1.80 billion to $2.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover ViaSat.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings data on Tuesday, May 23rd. The communications equipment provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. ViaSat had a return on equity of 2.07% and a net margin of 1.52%. The business had revenue of $416.40 million for the quarter, compared to analysts’ expectations of $400.90 million. During the same quarter in the previous year, the business posted $0.29 EPS. ViaSat’s revenue for the quarter was up 11.9% on a year-over-year basis.
VSAT has been the topic of a number of recent research reports. TheStreet upgraded ViaSat from a “c” rating to a “b-” rating in a report on Tuesday, May 23rd. Wells Fargo & Company set a $96.00 target price on ViaSat and gave the company a “buy” rating in a report on Wednesday, May 24th. B. Riley reiterated a “buy” rating and set a $89.00 price target on shares of ViaSat in a report on Wednesday, May 24th. Barclays PLC reiterated an “equal weight” rating and set a $80.00 price target (down from $82.00) on shares of ViaSat in a report on Monday, July 10th. Finally, Wunderlich upgraded ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $76.45.
ViaSat (VSAT) traded up 0.1023% during midday trading on Friday, reaching $65.7372. The company’s stock had a trading volume of 212,291 shares. The firm has a market cap of $3.79 billion, a P/E ratio of 146.0827 and a beta of 0.69. ViaSat has a 52-week low of $61.85 and a 52-week high of $82.19. The firm has a 50 day moving average of $67.14 and a 200 day moving average of $65.57.
In other ViaSat news, Director Jeffrey M. Nash sold 5,000 shares of ViaSat stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $71.76, for a total transaction of $358,800.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $358,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total value of $45,346.00. Following the sale, the director now directly owns 8,700 shares of the company’s stock, valued at approximately $563,586. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.
Large investors have recently modified their holdings of the company. FMR LLC raised its stake in ViaSat by 124.0% in the fourth quarter. FMR LLC now owns 6,051 shares of the communications equipment provider’s stock worth $401,000 after buying an additional 3,350 shares during the period. Guggenheim Capital LLC raised its stake in ViaSat by 40.4% in the fourth quarter. Guggenheim Capital LLC now owns 18,115 shares of the communications equipment provider’s stock worth $1,199,000 after buying an additional 5,211 shares during the period. Thrivent Financial for Lutherans raised its stake in ViaSat by 24.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,810 shares of the communications equipment provider’s stock worth $583,000 after buying an additional 1,720 shares during the period. Norges Bank bought a new stake in ViaSat during the fourth quarter worth $44,042,000. Finally, RMB Capital Management LLC bought a new stake in ViaSat during the fourth quarter worth $450,000. 94.76% of the stock is owned by hedge funds and other institutional investors.
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ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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