Zacks: Brokerages Anticipate ViaSat, Inc. (NASDAQ:VSAT) Will Announce Quarterly Sales of $568.66 Million

Brokerages expect ViaSat, Inc. (NASDAQ:VSAT) to post $568.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for ViaSat’s earnings, with the lowest sales estimate coming in at $546.52 million and the highest estimate coming in at $590.43 million. ViaSat reported sales of $517.47 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that ViaSat will report full year sales of $2.32 billion for the current year, with estimates ranging from $2.28 billion to $2.39 billion. For the next year, analysts anticipate that the business will post sales of $2.56 billion, with estimates ranging from $2.43 billion to $2.69 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ViaSat.

ViaSat (NASDAQ:VSAT) last released its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. ViaSat had a negative net margin of 2.08% and a negative return on equity of 2.26%. The business had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $506.02 million. During the same period last year, the business earned ($0.30) earnings per share. The firm’s revenue was up 22.4% on a year-over-year basis.

Several research firms recently weighed in on VSAT. ValuEngine cut shares of ViaSat from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of ViaSat from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research note on Monday, July 29th. BidaskClub cut shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Tuesday, September 24th. Finally, Raymond James raised shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. ViaSat has an average rating of “Hold” and a consensus target price of $94.71.

In other ViaSat news, Director John P. Stenbit sold 1,250 shares of ViaSat stock in a transaction on Monday, July 15th. The shares were sold at an average price of $83.79, for a total transaction of $104,737.50. Following the completion of the transaction, the director now directly owns 2,850 shares of the company’s stock, valued at $238,801.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin J. Harkenrider sold 17,500 shares of ViaSat stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $81.78, for a total transaction of $1,431,150.00. Following the transaction, the insider now directly owns 27,725 shares of the company’s stock, valued at $2,267,350.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,500 shares of company stock valued at $3,553,275. Company insiders own 7.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in shares of ViaSat during the second quarter worth $29,000. Bank of Montreal Can lifted its holdings in shares of ViaSat by 25.0% during the second quarter. Bank of Montreal Can now owns 915 shares of the communications equipment provider’s stock worth $74,000 after buying an additional 183 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of ViaSat during the second quarter worth $80,000. Meeder Asset Management Inc. acquired a new stake in shares of ViaSat during the second quarter worth $80,000. Finally, Pearl River Capital LLC acquired a new stake in shares of ViaSat during the second quarter worth $88,000. 90.14% of the stock is owned by institutional investors.

Shares of NASDAQ:VSAT traded up $0.07 during midday trading on Friday, hitting $71.02. The stock had a trading volume of 3,068 shares, compared to its average volume of 477,760. ViaSat has a 12 month low of $55.93 and a 12 month high of $97.31. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $76.82 and its 200-day simple moving average is $82.73. The company has a market cap of $4.39 billion, a P/E ratio of -62.85 and a beta of 0.87.

About ViaSat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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