Viasat (NASDAQ:VSAT) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Viasat (NASDAQ:VSAT) announced its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.16, Zacks reports. Viasat had a negative net margin of 24.95% and a negative return on equity of 19.76%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted ($0.83) earnings per share. Viasat’s revenue was up 41.1% compared to the same quarter last year.

Viasat Stock Down 6.8 %

Shares of VSAT stock traded down $1.67 during trading hours on Friday, hitting $22.82. 2,397,457 shares of the company were exchanged, compared to its average volume of 1,551,126. The business has a 50 day moving average of $15.85 and a two-hundred day moving average of $17.38. The company has a current ratio of 2.68, a quick ratio of 2.44 and a debt-to-equity ratio of 1.41. Viasat has a 52 week low of $11.76 and a 52 week high of $31.83. The company has a market capitalization of $2.87 billion, a PE ratio of -2.60 and a beta of 1.36.

Wall Street Analysts Forecast Growth

VSAT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Viasat from $23.00 to $22.00 and set a “hold” rating on the stock in a report on Tuesday, May 28th. Barclays cut their target price on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 5th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Viasat in a report on Monday, June 17th. Morgan Stanley cut their target price on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Finally, Bank of America increased their target price on shares of Viasat from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Viasat has a consensus rating of “Hold” and an average target price of $25.17.

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 entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.