Gilat Satellite Networks (NASDAQ:GILT) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Gilat Satellite Networks (NASDAQ:GILT) announced its earnings results on Wednesday. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06, Zacks reports. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%. Gilat Satellite Networks updated its FY 2025 guidance to EPS.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded up $1.01 during midday trading on Wednesday, reaching $13.49. The company’s stock had a trading volume of 1,426,739 shares, compared to its average volume of 584,743. Gilat Satellite Networks has a one year low of $4.86 and a one year high of $15.24. The company has a market cap of $772.02 million, a price-to-earnings ratio of 34.60 and a beta of 0.62. The company has a 50 day moving average price of $12.77 and a 200 day moving average price of $9.20. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Gilat Satellite Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in shares of Gilat Satellite Networks by 298.7% during the 2nd quarter. Jane Street Group LLC now owns 68,222 shares of the communications equipment provider’s stock worth $484,000 after acquiring an additional 51,109 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gilat Satellite Networks by 188.1% during the third quarter. JPMorgan Chase & Co. now owns 59,527 shares of the communications equipment provider’s stock valued at $775,000 after purchasing an additional 38,863 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Gilat Satellite Networks by 39.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,685 shares of the communications equipment provider’s stock valued at $870,000 after purchasing an additional 34,810 shares during the period. Cetera Investment Advisers purchased a new position in Gilat Satellite Networks in the 2nd quarter worth about $191,000. Finally, Bank of America Corp DE raised its holdings in Gilat Satellite Networks by 23.2% during the 2nd quarter. Bank of America Corp DE now owns 121,258 shares of the communications equipment provider’s stock worth $860,000 after buying an additional 22,817 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GILT shares. Zacks Research lowered Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC increased their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.