Viasat (NASDAQ:VSAT) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Viasat (NASDAQ:VSAT – Get Rating) issued its quarterly earnings results on Wednesday. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.12, MarketWatch Earnings reports. Viasat had a net margin of 0.78% and a return on equity of 0.81%. The business had revenue of $701.70 million for the quarter, compared to the consensus estimate of $724.40 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis.

VSAT stock opened at $36.55 on Friday. The firm’s fifty day simple moving average is $42.91 and its 200-day simple moving average is $45.11. The company has a market capitalization of $2.72 billion, a P/E ratio of 126.03 and a beta of 1.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.31 and a quick ratio of 0.86. Viasat has a 12 month low of $35.05 and a 12 month high of $68.76.

Several hedge funds have recently added to or reduced their stakes in VSAT. Lazard Asset Management LLC purchased a new stake in shares of Viasat in the 1st quarter valued at $85,000. Quantbot Technologies LP acquired a new position in shares of Viasat in the 1st quarter valued at $168,000. HighTower Advisors LLC acquired a new position in Viasat during the first quarter worth $215,000. Envestnet Asset Management Inc. acquired a new position in Viasat during the first quarter worth $232,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Viasat during the first quarter worth $424,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Viasat in a report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet lowered shares of Viasat from a “c” rating to a “d” rating in a report on Wednesday. Needham & Company LLC reduced their price target on shares of Viasat from $66.00 to $58.00 and set a “buy” rating for the company in a report on Thursday. Finally, Raymond James reduced their price target on shares of Viasat from $58.00 to $51.00 in a report on Friday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Viasat currently has an average rating of “Buy” and an average target price of $56.00.

Viasat Company Profile (Get Rating)

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 entertainment, internet, and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and advanced software and communication infrastructure services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.

See Also