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