Analysts Anticipate ViaSat, Inc. (VSAT) Will Post Quarterly Sales of $404.81 Million
Wall Street analysts expect ViaSat, Inc. (NASDAQ:VSAT) to announce sales of $404.81 million for the current quarter, according to Zacks. Five analysts have provided estimates for ViaSat’s earnings, with the highest sales estimate coming in at $411.10 million and the lowest estimate coming in at $398.50 million. ViaSat posted sales of $399.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The company is expected to issue its next earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that ViaSat will report full-year sales of $404.81 million for the current financial year, with estimates ranging from $1.61 billion to $1.70 billion. For the next financial year, analysts forecast that the company will post sales of $1.90 billion per share, with estimates ranging from $1.85 billion to $1.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow ViaSat.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Tuesday, August 8th. The communications equipment provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.03). ViaSat had a net margin of 0.82% and a return on equity of 1.21%. The firm had revenue of $380.00 million during the quarter, compared to the consensus estimate of $384.29 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Several research firms have recently commented on VSAT. B. Riley reissued a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a report on Sunday, June 4th. Cowen and Company raised ViaSat from a “market perform” rating to an “outperform” rating in a report on Saturday, June 3rd. Wunderlich raised ViaSat from a “sell” rating to a “hold” rating and set a $58.00 price objective for the company in a report on Friday, June 2nd. Zacks Investment Research downgraded ViaSat from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Finally, BidaskClub downgraded ViaSat from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.82.
ViaSat (NASDAQ:VSAT) opened at 62.46 on Friday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 270.39 and a beta of 0.69. The stock has a 50 day moving average of $62.24 and a 200-day moving average of $64.73. ViaSat has a 52-week low of $57.75 and a 52-week high of $82.19.
In related news, insider Kevin J. Harkenrider sold 20,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total value of $1,321,400.00. Following the sale, the insider now owns 24,004 shares in the company, valued at approximately $1,585,944.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Richard A. Baldridge sold 35,000 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $59.92, for a total value of $2,097,200.00. Following the completion of the sale, the chief operating officer now owns 59,000 shares in the company, valued at approximately $3,535,280. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,850 shares of company stock worth $5,532,689. 7.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ashford Capital Management Inc. raised its stake in ViaSat by 8.8% in the 2nd quarter. Ashford Capital Management Inc. now owns 268,963 shares of the communications equipment provider’s stock valued at $17,805,000 after acquiring an additional 21,642 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in ViaSat in the 2nd quarter valued at $489,000. Public Employees Retirement System of Ohio raised its stake in ViaSat by 43.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 210,362 shares of the communications equipment provider’s stock valued at $13,926,000 after acquiring an additional 64,201 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in ViaSat by 109.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,148,694 shares of the communications equipment provider’s stock valued at $76,044,000 after acquiring an additional 599,752 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in ViaSat by 3.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,531 shares of the communications equipment provider’s stock valued at $1,359,000 after acquiring an additional 627 shares during the period. Institutional investors and hedge funds own 99.42% of the company’s stock.
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ViaSat Company Profile
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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