ViaSat, Inc. (VSAT) Issues Quarterly Earnings Results

ViaSat, Inc. (NASDAQ:VSAT) issued its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03, Bloomberg Earnings reports. ViaSat had a return on equity of 1.21% and a net margin of 0.82%. The company had revenue of $380 million for the quarter, compared to the consensus estimate of $384.29 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 4.7% on a year-over-year basis.

Shares of ViaSat (NASDAQ:VSAT) traded up 0.30% on Friday, hitting $59.30. 713,247 shares of the stock were exchanged. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 256.71 and a beta of 0.68. The company has a 50 day moving average of $64.42 and a 200 day moving average of $65.45. ViaSat has a 52-week low of $57.75 and a 52-week high of $82.19.

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In related news, Director Jeffrey M. Nash sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $71.76, for a total transaction of $358,800.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at approximately $358,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.78, for a total value of $45,346.00. Following the sale, the director now owns 8,700 shares of the company’s stock, valued at $563,586. The disclosure for this sale can be found here. Insiders sold a total of 65,650 shares of company stock valued at $4,133,479 over the last quarter. Company insiders own 7.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of VSAT. BlackRock Inc. increased its position in shares of ViaSat by 1.6% in the second quarter. BlackRock Inc. now owns 5,478,099 shares of the communications equipment provider’s stock worth $362,651,000 after buying an additional 84,457 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ViaSat by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,459,294 shares of the communications equipment provider’s stock worth $295,205,000 after buying an additional 30,325 shares in the last quarter. New South Capital Management Inc. increased its position in ViaSat by 12.2% in the second quarter. New South Capital Management Inc. now owns 2,309,525 shares of the communications equipment provider’s stock valued at $152,891,000 after buying an additional 251,890 shares during the period. Odey Asset Management Group Ltd increased its position in ViaSat by 23.2% in the second quarter. Odey Asset Management Group Ltd now owns 2,148,954 shares of the communications equipment provider’s stock valued at $142,261,000 after buying an additional 404,251 shares during the period. Finally, State Street Corp increased its position in ViaSat by 5.3% in the second quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock valued at $116,669,000 after buying an additional 88,421 shares during the period. Institutional investors own 94.82% of the company’s stock.

VSAT has been the subject of several recent research reports. Royal Bank Of Canada set a $48.00 target price on shares of ViaSat and gave the stock a “sell” rating in a report on Saturday, May 6th. B. Riley restated a “buy” rating and set a $89.00 target price on shares of ViaSat in a research note on Friday, May 19th. Wells Fargo & Company set a $96.00 target price on shares of ViaSat and gave the stock a “buy” rating in a research note on Wednesday, May 24th. TheStreet upgraded shares of ViaSat from a “c” rating to a “b-” rating in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. ViaSat currently has a consensus rating of “Hold” and a consensus price target of $76.45.

About ViaSat

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.

Earnings History for ViaSat (NASDAQ:VSAT)

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