ViaSat, Inc. (VSAT) Expected to Post Earnings of -$0.34 Per Share

Equities research analysts expect ViaSat, Inc. (NASDAQ:VSAT) to report earnings of ($0.34) per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ViaSat’s earnings, with estimates ranging from ($0.36) to ($0.31). ViaSat posted earnings per share of $0.09 during the same quarter last year, which would suggest a negative year-over-year growth rate of 477.8%. The business is expected to announce its next quarterly earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that ViaSat will report full-year earnings of ($0.52) per share for the current financial year, with EPS estimates ranging from ($0.61) to ($0.42). For the next year, analysts expect that the business will report earnings of $1.35 per share, with EPS estimates ranging from $1.15 to $1.55. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for ViaSat.

ViaSat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, August 9th. The communications equipment provider reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.07). The firm had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $429.75 million. ViaSat had a negative net margin of 5.58% and a negative return on equity of 3.97%. ViaSat’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS.

Several equities analysts recently commented on VSAT shares. BidaskClub cut shares of ViaSat from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 13th. ValuEngine cut shares of ViaSat from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut shares of ViaSat from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Barclays set a $50.00 price objective on shares of ViaSat and gave the company a “sell” rating in a research note on Monday, August 13th. Finally, Needham & Company LLC reduced their price objective on shares of ViaSat from $74.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. ViaSat currently has an average rating of “Hold” and an average price target of $69.38.

Shares of NASDAQ:VSAT opened at $63.12 on Thursday. The company has a market cap of $3.81 billion, a P/E ratio of -73.40 and a beta of 0.81. ViaSat has a 12 month low of $59.16 and a 12 month high of $80.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.37 and a quick ratio of 0.88.

In other ViaSat news, insider Kevin J. Harkenrider sold 10,866 shares of ViaSat stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $70.03, for a total transaction of $760,945.98. Following the completion of the sale, the insider now directly owns 19,557 shares in the company, valued at $1,369,576.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $70.22, for a total transaction of $49,154.00. Following the sale, the director now owns 700 shares of the company’s stock, valued at $49,154. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,666 shares of company stock valued at $3,279,875. 8.10% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Summit Trail Advisors LLC bought a new stake in ViaSat during the second quarter valued at approximately $133,000. Verition Fund Management LLC bought a new stake in shares of ViaSat in the 1st quarter worth approximately $200,000. Sciencast Management LP bought a new stake in shares of ViaSat in the 1st quarter worth approximately $219,000. LPL Financial LLC bought a new stake in shares of ViaSat in the 1st quarter worth approximately $235,000. Finally, Royal Bank of Canada lifted its holdings in shares of ViaSat by 109.7% in the 1st quarter. Royal Bank of Canada now owns 3,858 shares of the communications equipment provider’s stock worth $252,000 after acquiring an additional 2,018 shares during the last quarter.

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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