Media headlines about RigNet (NASDAQ:RNET) have trended positive this week, Accern Sentiment reports. The research firm ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RigNet earned a news sentiment score of 0.26 on Accern’s scale. Accern also gave news coverage about the Wireless communications provider an impact score of 43.9935919561356 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
- Rignet Inc Has Returned 21.4% Since SmarTrend Recommendation (RNET) (mysmartrend.com)
- RigNet Inc (RNET) Director Sells $108,080.00 in Stock (americanbankingnews.com)
- Head-To-Head Survey: RigNet (RNET) versus The Competition (americanbankingnews.com)
- Edited Transcript of RNET earnings conference call or presentation 7-Mar-18 4:00pm GMT (finance.yahoo.com)
RNET has been the subject of a number of analyst reports. BidaskClub downgraded RigNet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. ValuEngine upgraded RigNet from a “strong sell” rating to a “sell” rating in a research report on Friday, March 9th. Finally, Wells Fargo initiated coverage on RigNet in a research report on Tuesday, January 30th. They set a “market perform” rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.00.
RigNet (NASDAQ:RNET) last released its earnings results on Tuesday, March 6th. The Wireless communications provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). RigNet had a negative return on equity of 11.51% and a negative net margin of 7.92%. The business had revenue of $56.81 million for the quarter, compared to analyst estimates of $51.00 million. sell-side analysts predict that RigNet will post -0.64 earnings per share for the current year.
In related news, Director Charles Louis Iv Davis sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $13.51, for a total transaction of $108,080.00. Following the completion of the sale, the director now owns 32,313 shares of the company’s stock, valued at $436,548.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
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RigNet Company Profile
RigNet, Inc (RigNet) provides customized systems and solutions serving customers with data networking and operational requirements. The Company provides voice and data network, video conferencing and monitoring, crew welfare, asset and weather monitoring, and real-time data services. It operates through two segments: Managed Services, and Systems Integration and Automation (SI&A).
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