ViaSat, Inc. (NASDAQ:VSAT) Expected to Post Quarterly Sales of $568.66 Million

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Wall Street brokerages predict that ViaSat, Inc. (NASDAQ:VSAT) will announce sales of $568.66 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for ViaSat’s earnings. The lowest sales estimate is $546.52 million and the highest is $590.43 million. ViaSat posted sales of $517.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.9%. The company is expected to report its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that ViaSat will report full year sales of $2.32 billion for the current financial year, with estimates ranging from $2.28 billion to $2.39 billion. For the next financial year, analysts forecast that the company will report sales of $2.56 billion, with estimates ranging from $2.43 billion to $2.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for ViaSat.

ViaSat (NASDAQ:VSAT) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. ViaSat had a negative return on equity of 2.26% and a negative net margin of 2.08%. The business had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $506.02 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year.

A number of equities research analysts recently commented on VSAT shares. BidaskClub downgraded shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. Raymond James raised shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research report on Friday, August 9th. ValuEngine cut shares of ViaSat from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered shares of ViaSat from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $94.71.

Shares of VSAT stock traded down $0.20 during mid-day trading on Friday, hitting $70.82. 8,765 shares of the stock were exchanged, compared to its average volume of 307,167. The stock’s fifty day simple moving average is $76.54 and its two-hundred day simple moving average is $82.67. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -62.96 and a beta of 0.87. ViaSat has a 12-month low of $55.93 and a 12-month high of $97.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.64.

In other ViaSat news, Director B Allen Lay sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $81,340.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Stenbit sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $83.79, for a total transaction of $104,737.50. Following the completion of the sale, the director now owns 2,850 shares in the company, valued at approximately $238,801.50. The disclosure for this sale can be found here. Insiders sold 44,500 shares of company stock worth $3,553,275 in the last 90 days. 7.60% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new position in shares of ViaSat in the second quarter valued at approximately $29,000. Bank of Montreal Can boosted its holdings in shares of ViaSat by 25.0% in the second quarter. Bank of Montreal Can now owns 915 shares of the communications equipment provider’s stock valued at $74,000 after acquiring an additional 183 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of ViaSat in the second quarter valued at approximately $80,000. Meeder Asset Management Inc. bought a new position in shares of ViaSat in the second quarter valued at approximately $80,000. Finally, Pearl River Capital LLC bought a new position in shares of ViaSat in the second quarter valued at approximately $88,000. Institutional investors own 90.14% of the company’s stock.

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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