Viasat (VSAT) Set to Announce Earnings on Wednesday

Viasat (NASDAQ:VSAT) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of ($0.56) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Viasat (NASDAQ:VSAT) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.16. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned ($0.83) earnings per share. The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. On average, analysts expect Viasat to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Viasat Stock Performance

Shares of VSAT traded up $0.30 during midday trading on Tuesday, hitting $10.47. 960,981 shares of the stock traded hands, compared to its average volume of 1,730,592. The business’s 50 day moving average price is $12.50 and its two-hundred day moving average price is $15.02. The firm has a market capitalization of $1.34 billion, a PE ratio of -1.29 and a beta of 1.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. Viasat has a 1-year low of $9.37 and a 1-year high of $29.11.

Analyst Upgrades and Downgrades

VSAT has been the subject of a number of analyst reports. Needham & Company LLC reduced their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. Bank of America decreased their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, StockNews.com downgraded Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.83.

Insider Buying and Selling

In other Viasat news, insider Cpp Investment Board Private H sold 2,811,442 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the completion of the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

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.