ViaSat, Inc. (VSAT) Expected to Announce Quarterly Sales of $388.56 Million

Wall Street brokerages expect that ViaSat, Inc. (NASDAQ:VSAT) will report $388.56 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for ViaSat’s earnings. The lowest sales estimate is $372.34 million and the highest is $411.48 million. ViaSat reported sales of $380.63 million during the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The business is expected to announce its next earnings report on Thursday, February 8th.

On average, analysts expect that ViaSat will report full year sales of $388.56 million for the current fiscal year, with estimates ranging from $1.57 billion to $1.70 billion. For the next financial year, analysts forecast that the business will report sales of $1.86 billion per share, with estimates ranging from $1.73 billion to $1.95 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow ViaSat.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The business had revenue of $393.10 million for the quarter, compared to the consensus estimate of $401.83 million. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis.

Several equities research analysts have recently issued reports on VSAT shares. BidaskClub raised ViaSat from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. Needham & Company LLC raised ViaSat from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Friday, November 10th. B. Riley reaffirmed a “buy” rating and issued a $89.00 target price on shares of ViaSat in a report on Thursday, November 9th. Morgan Stanley started coverage on ViaSat in a report on Friday, December 15th. They issued an “equal weight” rating and a $78.00 target price on the stock. Finally, Zacks Investment Research raised ViaSat from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $73.75.

ViaSat (VSAT) opened at $79.05 on Monday. ViaSat has a 52-week low of $57.75 and a 52-week high of $79.18. The company has a market capitalization of $4,600.00, a PE ratio of -395.25 and a beta of 0.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.26 and a quick ratio of 1.71.

In other ViaSat news, Director B Allen Lay sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $73.53, for a total transaction of $367,650.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $367,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $65.40, for a total value of $45,780.00. Following the sale, the director now directly owns 10,300 shares in the company, valued at $673,620. The disclosure for this sale can be found here. Insiders sold 20,400 shares of company stock worth $1,486,717 over the last ninety days. Insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP bought a new position in shares of ViaSat during the second quarter valued at approximately $444,000. Prudential Financial Inc. grew its stake in shares of ViaSat by 1.9% during the second quarter. Prudential Financial Inc. now owns 35,773 shares of the communications equipment provider’s stock valued at $2,368,000 after buying an additional 660 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of ViaSat by 1,936.1% during the second quarter. JPMorgan Chase & Co. now owns 12,135 shares of the communications equipment provider’s stock valued at $803,000 after buying an additional 11,539 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of ViaSat by 46.7% during the second quarter. Wells Fargo & Company MN now owns 86,591 shares of the communications equipment provider’s stock valued at $5,732,000 after buying an additional 27,545 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of ViaSat by 75.7% during the second quarter. Riverhead Capital Management LLC now owns 3,162 shares of the communications equipment provider’s stock valued at $209,000 after buying an additional 1,362 shares during the last quarter.

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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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