Viasat (NASDAQ:VSAT) Announces Earnings Results, Misses Estimates By $0.27 EPS

Viasat (NASDAQ:VSAT – Get Free Report) issued its earnings results on Thursday. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.27), FiscalAI reports. Viasat had a negative net margin of 7.34% and a positive return on equity of 1.73%.

Viasat Stock Up 1.3%

NASDAQ VSAT traded up $1.12 on Thursday, hitting $86.69. The stock had a trading volume of 3,683,332 shares, compared to its average volume of 1,765,703. The business’s fifty day moving average price is $60.82 and its 200 day moving average price is $47.50. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of -33.47 and a beta of 1.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. Viasat has a 52-week low of $8.61 and a 52-week high of $89.79.

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Insider Activity at Viasat

In other news, SVP Robert James Blair sold 30,411 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the sale, the senior vice president owned 38,108 shares in the company, valued at approximately $1,792,600.32. The trade was a 44.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the transaction, the senior vice president owned 25,431 shares in the company, valued at approximately $1,175,166.51. This trade represents a 8.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,071 shares of company stock valued at $1,804,437 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Viasat

Several large investors have recently bought and sold shares of the stock. Vise Technologies Inc. lifted its stake in shares of Viasat by 4.8% during the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock worth $257,000 after buying an additional 342 shares during the period. State of Tennessee Department of Treasury raised its stake in Viasat by 0.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock worth $1,618,000 after acquiring an additional 350 shares during the last quarter. Victory Capital Management Inc. raised its stake in Viasat by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider’s stock worth $561,000 after acquiring an additional 361 shares during the last quarter. Osaic Holdings Inc. lifted its position in Viasat by 1.2% during the 4th quarter. Osaic Holdings Inc. now owns 33,099 shares of the communications equipment provider’s stock worth $1,141,000 after acquiring an additional 398 shares during the period. Finally, Amundi lifted its position in Viasat by 4.2% during the 4th quarter. Amundi now owns 10,840 shares of the communications equipment provider’s stock worth $374,000 after acquiring an additional 436 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Analysts Set New Price Targets

VSAT has been the topic of a number of recent research reports. Barclays upgraded shares of Viasat from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $49.00 in a research note on Wednesday, April 8th. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. New Street Research assumed coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Finally, Needham & Company LLC upped their price objective on Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

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About Viasat

(Get Free Report)

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.

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