Brokerages Expect ViaSat, Inc. (VSAT) Will Post Quarterly Sales of $464.51 Million

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Wall Street analysts predict that ViaSat, Inc. (NASDAQ:VSAT) will post $464.51 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for ViaSat’s earnings. The lowest sales estimate is $445.50 million and the highest is $479.30 million. ViaSat posted sales of $393.07 million during the same quarter last year, which suggests a positive year over year growth rate of 18.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that ViaSat will report full year sales of $1.91 billion for the current year, with estimates ranging from $1.79 billion to $1.98 billion. For the next financial year, analysts expect that the business will post sales of $2.19 billion, with estimates ranging from $1.92 billion to $2.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ViaSat.

ViaSat (NASDAQ:VSAT) last issued its quarterly earnings results on Thursday, August 9th. The communications equipment provider reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.07). ViaSat had a negative net margin of 5.58% and a negative return on equity of 3.97%. The firm had revenue of $438.90 million for the quarter, compared to the consensus estimate of $429.75 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis.

Several equities analysts recently issued reports on the company. TheStreet upgraded ViaSat from a “d+” rating to a “c-” rating in a research note on Thursday, July 19th. ValuEngine upgraded ViaSat from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. BidaskClub upgraded ViaSat from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Needham & Company LLC lowered their price target on ViaSat from $74.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Finally, Morgan Stanley lowered their price target on ViaSat from $71.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $69.38.

VSAT traded down $1.39 on Friday, hitting $60.56. 520,007 shares of the stock traded hands, compared to its average volume of 415,885. ViaSat has a 52 week low of $59.16 and a 52 week high of $80.26. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -70.42 and a beta of 0.81.

In other ViaSat news, EVP Keven K. Lippert sold 1,600 shares of ViaSat stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $63.28, for a total transaction of $101,248.00. Following the sale, the executive vice president now directly owns 93 shares of the company’s stock, valued at $5,885.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard A. Baldridge sold 31,700 shares of ViaSat stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $63.23, for a total value of $2,004,391.00. Following the sale, the chief operating officer now directly owns 61,700 shares in the company, valued at $3,901,291. The disclosure for this sale can be found here. Insiders have sold 39,800 shares of company stock worth $2,518,929 over the last ninety days. Company insiders own 8.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in ViaSat by 1.3% during the second quarter. Northern Trust Corp now owns 815,627 shares of the communications equipment provider’s stock valued at $53,603,000 after purchasing an additional 10,770 shares in the last quarter. Odey Asset Management Group Ltd boosted its holdings in ViaSat by 2.6% during the second quarter. Odey Asset Management Group Ltd now owns 2,345,372 shares of the communications equipment provider’s stock valued at $154,138,000 after purchasing an additional 59,556 shares in the last quarter. Global X Management Co LLC boosted its holdings in ViaSat by 26.8% during the second quarter. Global X Management Co LLC now owns 14,232 shares of the communications equipment provider’s stock valued at $935,000 after purchasing an additional 3,006 shares in the last quarter. Jane Street Group LLC acquired a new stake in ViaSat during the second quarter valued at approximately $363,000. Finally, California Public Employees Retirement System boosted its holdings in ViaSat by 18.6% during the second quarter. California Public Employees Retirement System now owns 133,249 shares of the communications equipment provider’s stock valued at $8,757,000 after purchasing an additional 20,868 shares in the last quarter.

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 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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