Viasat (NASDAQ:VSAT) Announces Quarterly Earnings Results

Viasat (NASDAQ:VSAT) posted its quarterly earnings data on Thursday. The communications equipment provider reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.70), Zacks reports. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%.

Viasat Stock Performance

Shares of NASDAQ:VSAT traded up $0.29 during midday trading on Thursday, reaching $9.52. 3,537,073 shares of the company traded hands, compared to its average volume of 4,133,661. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. Viasat has a 12 month low of $6.69 and a 12 month high of $26.70. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.05 and a beta of 1.35. The firm’s fifty day moving average price is $9.29 and its two-hundred day moving average price is $12.00.

Insider Activity at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total transaction of $32,824.44. Following the sale, the executive vice president now directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on VSAT. Barclays dropped their price target on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Viasat in a research report on Tuesday, January 21st. Morgan Stanley dropped their price target on Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Cantor Fitzgerald began coverage on Viasat in a research report on Friday, January 24th. They set a “neutral” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.43.

Viasat Company Profile

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.