Brokerages Anticipate ViaSat, Inc. (NASDAQ:VSAT) Will Announce Quarterly Sales of $504.58 Million

Share on StockTwits

Analysts predict that ViaSat, Inc. (NASDAQ:VSAT) will post $504.58 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ViaSat’s earnings. The lowest sales estimate is $490.20 million and the highest is $525.94 million. ViaSat posted sales of $438.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The business is expected to report its next earnings results on Thursday, August 8th.

On average, analysts expect that ViaSat will report full-year sales of $2.28 billion for the current fiscal year, with estimates ranging from $2.27 billion to $2.30 billion. For the next year, analysts forecast that the business will report sales of $2.53 billion, with estimates ranging from $2.48 billion to $2.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for ViaSat.

ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.29. The company had revenue of $557.20 million during the quarter, compared to analysts’ expectations of $538.73 million. ViaSat had a negative return on equity of 3.47% and a negative net margin of 3.27%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) earnings per share.

Several research firms have issued reports on VSAT. B. Riley raised their target price on ViaSat from $89.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James cut ViaSat from an “outperform” rating to a “market perform” rating and set a $90.92 target price for the company. in a research note on Thursday, May 30th. They noted that the move was a valuation call. BidaskClub raised ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 10th. Zacks Investment Research raised ViaSat from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Monday, May 13th. Finally, Bank of America reissued a “buy” rating and set a $105.00 target price (up previously from $74.00) on shares of ViaSat in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $96.99.

In other news, Director B Allen Lay sold 1,000 shares of ViaSat stock in a transaction on Monday, April 1st. The stock was sold at an average price of $78.04, for a total value of $78,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark D. Dankberg sold 149,022 shares of ViaSat stock in a transaction on Monday, June 10th. The shares were sold at an average price of $90.75, for a total value of $13,523,746.50. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $9,075,000. The disclosure for this sale can be found here. Insiders sold 470,903 shares of company stock valued at $41,735,777 over the last ninety days. Insiders own 8.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in ViaSat in the fourth quarter valued at about $30,846,000. Squarepoint Ops LLC increased its position in ViaSat by 103.9% during the fourth quarter. Squarepoint Ops LLC now owns 420,362 shares of the communications equipment provider’s stock worth $24,780,000 after acquiring an additional 214,227 shares during the period. BlackRock Inc. increased its position in ViaSat by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,612,721 shares of the communications equipment provider’s stock worth $389,817,000 after acquiring an additional 211,159 shares during the period. D. E. Shaw & Co. Inc. increased its position in ViaSat by 55.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 527,042 shares of the communications equipment provider’s stock worth $31,069,000 after acquiring an additional 186,912 shares during the period. Finally, Odey Asset Management Group Ltd increased its position in ViaSat by 4.4% during the fourth quarter. Odey Asset Management Group Ltd now owns 3,153,470 shares of the communications equipment provider’s stock worth $185,897,000 after acquiring an additional 132,641 shares during the period. 96.49% of the stock is owned by institutional investors and hedge funds.

VSAT stock traded down $1.01 during midday trading on Wednesday, hitting $87.52. 9,487 shares of the company’s stock were exchanged, compared to its average volume of 591,659. The company has a quick ratio of 1.34, a current ratio of 1.83 and a debt-to-equity ratio of 0.73. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -77.65 and a beta of 0.98. ViaSat has a 1-year low of $55.93 and a 1-year high of $97.31.

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.

See Also: Portfolio Manager

Get a free copy of the Zacks research report on ViaSat (VSAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ViaSat (NASDAQ:VSAT)

Receive News & Ratings for ViaSat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViaSat and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

International Stem Cell  Downgraded by Zacks Investment Research to Sell
International Stem Cell Downgraded by Zacks Investment Research to Sell
Urban Outfitters  Upgraded to “Sell” by BidaskClub
Urban Outfitters Upgraded to “Sell” by BidaskClub
Klepierre  Upgraded to “Hold” by Zacks Investment Research
Klepierre Upgraded to “Hold” by Zacks Investment Research
Earthstone Energy Inc Expected to Post Q2 2019 Earnings of $0.20 Per Share
Earthstone Energy Inc Expected to Post Q2 2019 Earnings of $0.20 Per Share
VEON  Upgraded to “Buy” at BidaskClub
VEON Upgraded to “Buy” at BidaskClub
Sandy Spring Bancorp  Upgraded to Buy at BidaskClub
Sandy Spring Bancorp Upgraded to Buy at BidaskClub


© 2006-2019 Ticker Report