ViaSat, Inc. (NASDAQ:VSAT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “ViaSat’s second-quarter fiscal 2018 adjusted earnings beat the Zacks Consensus Estimate by a whopping 250% but fell year over year, hurt by escalating research and development costs, and costs related to the ViaSat-2 service launch activities. High R&D and ramp-up costs remain a major headwind to the company’s margins in the near term. The company recorded terrific growth in government business, which was somewhat offset by contraction in Commercial Networks revenues. Steady growth in in-flight connectivity services, mobile broadband, consumer ARPU gains and cost-reduction initiatives proved conducive to growth. ViaSat shares have outperformed the industry’s average return as well, over the past six months. However, persistent weakness in the Commercial Networks segment, seasonality of demand, strong competition and huge rise in R&D expenses continue to be overhangs for the company’s profitability.”
Several other equities research analysts have also recently issued reports on the company. Needham & Company LLC upgraded ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Friday. B. Riley restated a “buy” rating and set a $89.00 price objective on shares of ViaSat in a report on Thursday, November 9th. Royal Bank Of Canada decreased their price objective on ViaSat from $50.00 to $48.00 and set an “underperform” rating on the stock in a report on Thursday, October 5th. Jefferies Group LLC set a $67.00 price objective on ViaSat and gave the stock a “hold” rating in a report on Sunday, September 10th. Finally, TheStreet cut ViaSat from a “b-” rating to a “c” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.17.
ViaSat (NASDAQ VSAT) traded up $1.60 during trading on Tuesday, reaching $70.00. The company’s stock had a trading volume of 1,056,100 shares, compared to its average volume of 443,365. ViaSat has a one year low of $57.75 and a one year high of $81.71. The company has a quick ratio of 1.71, a current ratio of 2.26 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3,983.43, a P/E ratio of 1,368.00 and a beta of 0.74.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. ViaSat had a positive return on equity of 0.13% and a negative net margin of 0.75%. The business had revenue of $393.10 million for the quarter, compared to analysts’ expectations of $401.83 million. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. research analysts anticipate that ViaSat will post -0.92 earnings per share for the current fiscal year.
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In other ViaSat news, insider Keven K. Lippert sold 1,200 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.20, for a total transaction of $83,040.00. Following the transaction, the insider now owns 2,949 shares in the company, valued at $204,070.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Dankberg sold 28,500 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $60.12, for a total value of $1,713,420.00. Following the transaction, the chief executive officer now owns 28,500 shares in the company, valued at approximately $1,713,420. The disclosure for this sale can be found here. Insiders sold 121,300 shares of company stock worth $7,657,624 in the last quarter. 7.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Fiduciary Management Inc. WI lifted its stake in shares of ViaSat by 78.2% during the third quarter. Fiduciary Management Inc. WI now owns 779,160 shares of the communications equipment provider’s stock worth $50,116,000 after purchasing an additional 341,875 shares in the last quarter. ThornTree Capital Partners LP lifted its stake in shares of ViaSat by 12.3% during the third quarter. ThornTree Capital Partners LP now owns 259,700 shares of the communications equipment provider’s stock worth $16,704,000 after purchasing an additional 28,500 shares in the last quarter. B. Riley Financial Inc. lifted its stake in shares of ViaSat by 123.9% during the third quarter. B. Riley Financial Inc. now owns 21,104 shares of the communications equipment provider’s stock worth $1,352,000 after purchasing an additional 11,680 shares in the last quarter. Partners Capital Investment Group Holdings LLC lifted its stake in shares of ViaSat by 13.4% during the third quarter. Partners Capital Investment Group Holdings LLC now owns 341,554 shares of the communications equipment provider’s stock worth $21,969,000 after purchasing an additional 40,290 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of ViaSat during the third quarter worth about $2,539,000. Institutional investors own 99.26% of the company’s stock.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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