Viasat (NASDAQ:VSAT) Posts Quarterly Earnings Results

Viasat (NASDAQ:VSAT) released its quarterly earnings results on Tuesday. The communications equipment provider reported ($1.89) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($1.92), Briefing.com reports. Viasat had a negative return on equity of 8.37% and a negative net margin of 9.49%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted ($0.24) earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year.

Viasat Stock Performance

Shares of VSAT opened at $10.53 on Wednesday. The company’s fifty day moving average is $9.50 and its 200-day moving average is $9.30. Viasat has a 12 month low of $6.69 and a 12 month high of $26.70. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.13 and a beta of 1.01. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 1.35.

Analyst Upgrades and Downgrades

A number of research firms have commented on VSAT. Barclays boosted their price target on shares of Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, March 24th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Viasat in a report on Monday, February 10th. William Blair restated a “market perform” rating on shares of Viasat in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald started coverage on shares of Viasat in a report on Friday, January 24th. They set a “neutral” rating and a $12.00 target price for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viasat presently has a consensus rating of “Hold” and an average target price of $14.57.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Viasat by 483.2% during the 1st quarter. Royal Bank of Canada now owns 109,448 shares of the communications equipment provider’s stock worth $1,140,000 after purchasing an additional 90,680 shares during the last quarter. Empowered Funds LLC raised its holdings in Viasat by 6.9% in the 1st quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after acquiring an additional 14,575 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Viasat by 69.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,466 shares of the communications equipment provider’s stock worth $2,631,000 after acquiring an additional 103,396 shares during the period. AQR Capital Management LLC raised its holdings in Viasat by 189.7% in the 1st quarter. AQR Capital Management LLC now owns 452,933 shares of the communications equipment provider’s stock worth $4,692,000 after acquiring an additional 296,612 shares during the period. Finally, Millennium Management LLC raised its holdings in Viasat by 673.7% in the 1st quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock worth $14,443,000 after acquiring an additional 1,206,935 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.