News coverage about RigNet (NASDAQ:RNET) has trended somewhat positive on Thursday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. RigNet earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave news headlines about the Wireless communications provider an impact score of 45.7526254774074 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Zacks: Analysts Expect RigNet (RNET) to Announce -$0.18 EPS (americanbankingnews.com)
- RigNet (RNET) Rating Lowered to Sell at Zacks Investment Research (americanbankingnews.com)
- Directview (DIRV) vs. RigNet (RNET) Head-To-Head Analysis (americanbankingnews.com)
- RigNet (RNET) Receives Average Rating of “Hold” from Brokerages (americanbankingnews.com)
RNET has been the subject of a number of research analyst reports. BidaskClub raised shares of RigNet from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Wells Fargo initiated coverage on shares of RigNet in a research note on Tuesday, January 30th. They issued a “market perform” rating and a $18.00 price target for the company. Finally, ValuEngine lowered shares of RigNet from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average 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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $51.00 million. analysts anticipate that RigNet will post -0.64 earnings per share for the current year.
In related news, Director Charles Louis Iv Davis sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $13.45, for a total value of $161,400.00. Following the sale, the director now directly owns 28,313 shares in the company, valued at approximately $380,809.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.
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RigNet Company Profile
RigNet, Inc, a technology company, provides customized communications services, applications, and cybersecurity solutions in the United States and internationally. The company operates through three segments: Managed Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration.
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