Gilat Satellite Networks (NASDAQ:GILT) Issues Quarterly Earnings Results

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

Gilat Satellite Networks Stock Up 8.1%

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

Wall Street Analyst Weigh In

GILT has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. Zacks Research lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC raised their price objective on Gilat Satellite Networks from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of institutional investors have recently modified their holdings of GILT. Marshall Wace LLP increased its position in Gilat Satellite Networks by 1.6% in the second quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider’s stock worth $3,643,000 after buying an additional 8,105 shares during the period. Russell Investments Group Ltd. increased its holdings 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 worth $870,000 after acquiring an additional 34,810 shares during the period. Bank of America Corp DE lifted its position in Gilat Satellite Networks by 23.2% in the 2nd quarter. Bank of America Corp DE now owns 121,258 shares of the communications equipment provider’s stock valued at $860,000 after purchasing an additional 22,817 shares during the last quarter. Jane Street Group LLC boosted its stake in 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 valued at $484,000 after purchasing an additional 51,109 shares during the period. Finally, Tidal Investments LLC boosted its stake in Gilat Satellite Networks by 6.8% during the 2nd quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider’s stock valued at $471,000 after purchasing an additional 4,250 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

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.