ViaSat, Inc. (VSAT) Expected to Post Quarterly Sales of $400.43 Million
Equities research analysts predict that ViaSat, Inc. (NASDAQ:VSAT) will post $400.43 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for ViaSat’s earnings, with the lowest sales estimate coming in at $388.31 million and the highest estimate coming in at $411.10 million. ViaSat reported sales of $399.16 million in the same quarter last year, which indicates a positive year over year growth rate of 0.3%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that ViaSat will report full-year sales of $400.43 million for the current year, with estimates ranging from $1.61 billion to $1.70 billion. For the next financial year, analysts forecast that the business will report sales of $1.90 billion per share, with estimates ranging from $1.85 billion to $1.95 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for 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). The business had revenue of $380.00 million for the quarter, compared to analyst estimates of $384.29 million. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS.
A number of research analysts have recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a research note on Sunday, August 13th. TheStreet downgraded ViaSat from a “b-” rating to a “c” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada set a $50.00 price objective on ViaSat and gave the company a “sell” rating in a research note on Tuesday, August 15th. Barclays PLC reissued an “equal weight” rating and issued a $80.00 price objective (down from $82.00) on shares of ViaSat in a research note on Monday, July 10th. Finally, Jefferies Group LLC set a $67.00 price objective on ViaSat and gave the company a “hold” rating in a research note on Sunday, September 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.70.
In related news, insider Kevin J. Harkenrider sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $66.07, for a total transaction of $1,321,400.00. Following the transaction, the insider now directly owns 24,004 shares of the company’s stock, valued at approximately $1,585,944.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Nash sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $64.94, for a total value of $129,880.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,350 shares of company stock worth $11,258,137. 7.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of VSAT. BlackRock Inc. increased its holdings in ViaSat by 1.6% during the 2nd quarter. BlackRock Inc. now owns 5,478,099 shares of the communications equipment provider’s stock worth $362,651,000 after purchasing an additional 84,457 shares in the last quarter. Vanguard Group Inc. increased its holdings in ViaSat by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,459,294 shares of the communications equipment provider’s stock worth $295,205,000 after purchasing an additional 30,325 shares in the last quarter. New South Capital Management Inc. increased its holdings in ViaSat by 12.2% during the 2nd quarter. New South Capital Management Inc. now owns 2,309,525 shares of the communications equipment provider’s stock worth $152,891,000 after purchasing an additional 251,890 shares in the last quarter. Odey Asset Management Group Ltd increased its holdings in ViaSat by 23.2% during the 2nd quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock worth $142,261,000 after purchasing an additional 404,251 shares in the last quarter. Finally, State Street Corp increased its holdings in ViaSat by 5.3% during the 2nd quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock worth $116,669,000 after purchasing an additional 88,421 shares in the last quarter. 99.53% of the stock is currently owned by institutional investors and hedge funds.
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Shares of ViaSat (NASDAQ VSAT) opened at 64.54 on Tuesday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 279.39 and a beta of 0.71. The stock’s 50 day moving average price is $63.50 and its 200-day moving average price is $64.61. ViaSat has a 52-week low of $57.75 and a 52-week high of $82.19.
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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