ViaSat (VSAT) Posts Earnings Results, Beats Expectations By $0.29 EPS

ViaSat (NASDAQ:VSAT) issued its quarterly earnings data on Thursday. The communications equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.29, Morningstar.com reports. The business had revenue of $557.20 million for the quarter, compared to analysts’ expectations of $538.73 million. ViaSat had a negative net margin of 4.62% and a negative return on equity of 4.60%. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) EPS.

ViaSat stock opened at $87.83 on Friday. ViaSat has a 1 year low of $55.93 and a 1 year high of $92.62. The firm has a market capitalization of $5.37 billion, a P/E ratio of -102.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.96 and a current ratio of 1.44.

In related news, insider Ken Allen Peterman sold 47,625 shares of ViaSat stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $78.09, for a total value of $3,719,036.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director B Allen Lay sold 1,000 shares of ViaSat stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $90.96, for a total transaction of $90,960.00. The disclosure for this sale can be found here. Insiders sold a total of 50,625 shares of company stock worth $3,964,006 in the last three months. 8.10% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of ViaSat by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock valued at $2,793,000 after acquiring an additional 9,018 shares during the period. Virtu Financial LLC purchased a new stake in shares of ViaSat during the 4th quarter valued at approximately $203,000. IFP Advisors Inc lifted its stake in shares of ViaSat by 245.3% during the 4th quarter. IFP Advisors Inc now owns 1,478 shares of the communications equipment provider’s stock valued at $86,000 after buying an additional 1,050 shares in the last quarter. Strs Ohio lifted its stake in shares of ViaSat by 34.6% during the 4th quarter. Strs Ohio now owns 7,000 shares of the communications equipment provider’s stock valued at $412,000 after buying an additional 1,800 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of ViaSat by 1.3% during the 4th quarter. Arizona State Retirement System now owns 40,244 shares of the communications equipment provider’s stock valued at $2,372,000 after buying an additional 498 shares in the last quarter.

A number of brokerages have recently commented on VSAT. BidaskClub raised shares of ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 10th. Zacks Investment Research raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Monday, May 13th. ValuEngine raised shares of ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 10th. Raymond James lifted their price target on shares of ViaSat from $73.00 to $81.00 and gave the company a “positive” rating in a research note on Friday, February 15th. Finally, B. Riley lifted their price target on shares of ViaSat from $89.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.88.

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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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Earnings History for ViaSat (NASDAQ:VSAT)

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