Gilat Satellite Networks (NASDAQ:GILT) announced its quarterly earnings data on Tuesday. The communications equipment provider reported $0.06 earnings per share for the quarter, Morningstar.com reports. Gilat Satellite Networks had a return on equity of 7.54% and a net margin of 6.91%. The business had revenue of $62.11 million during the quarter. Gilat Satellite Networks updated its FY 2019 guidance to EPS.
GILT traded down $0.12 on Wednesday, reaching $8.75. The stock had a trading volume of 1,527 shares, compared to its average volume of 7,381. Gilat Satellite Networks has a fifty-two week low of $7.76 and a fifty-two week high of $10.74. The company has a quick ratio of 1.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.03. The stock has a market cap of $490.55 million, a PE ratio of 29.60 and a beta of 0.61.
Several analysts recently weighed in on the company. ValuEngine upgraded Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. BidaskClub upgraded Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th.
A number of institutional investors and hedge funds have recently modified their holdings of GILT. Clal Insurance Enterprises Holdings Ltd increased its holdings in Gilat Satellite Networks by 67.2% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock worth $7,747,000 after purchasing an additional 370,507 shares in the last quarter. Norges Bank acquired a new position in Gilat Satellite Networks in the 4th quarter worth about $2,107,000. Meitav Dash Investments Ltd. increased its holdings in Gilat Satellite Networks by 25.8% in the 1st quarter. Meitav Dash Investments Ltd. now owns 414,972 shares of the communications equipment provider’s stock worth $3,408,000 after purchasing an additional 84,992 shares in the last quarter. ETF Managers Group LLC acquired a new position in Gilat Satellite Networks in the 4th quarter worth about $492,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Gilat Satellite Networks by 1.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 707,470 shares of the communications equipment provider’s stock worth $6,261,000 after purchasing an additional 7,675 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.
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About Gilat Satellite Networks
Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.
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