Viasat (NASDAQ:VSAT) Announces Quarterly Earnings Results

Viasat (NASDAQ:VSAT) issued its quarterly earnings results on Thursday. The communications equipment provider reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.70), Zacks reports. Viasat had a negative return on equity of 8.28% and a negative net margin of 9.49%.

Viasat Stock Performance

Shares of Viasat stock traded up $1.86 during trading on Friday, reaching $11.38. The company’s stock had a trading volume of 8,275,707 shares, compared to its average volume of 4,080,137. The business’s 50-day moving average price is $9.33 and its 200-day moving average price is $11.95. Viasat has a 52 week low of $6.69 and a 52 week high of $26.70. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The firm has a market cap of $1.46 billion, a PE ratio of -3.39 and a beta of 1.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. 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. William Blair reaffirmed a “market perform” rating on shares of Viasat in a research note on Friday. Cantor Fitzgerald started coverage on shares of Viasat in a research report on Friday, January 24th. They set a “neutral” rating and a $12.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of Viasat in a research report on Tuesday, January 21st. Finally, Morgan Stanley lowered their price objective on shares of Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $15.43.

Insider Transactions at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the transaction, the executive vice president now directly owns 350,351 shares in the company, valued at $3,226,732.71. This represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by 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.