Viasat (NASDAQ:VSAT) Releases Earnings Results, Misses Expectations By $0.70 EPS

Viasat (NASDAQ:VSAT - Get Free Report) issued its quarterly earnings results on Thursday. The communications equipment provider reported ($1.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.70), Zacks reports. Viasat had a negative net margin of 9.49% and a negative return on equity of 8.28%.

Viasat Trading Down 1.8 %

VSAT traded down $0.21 on Monday, hitting $11.17. 5,469,435 shares of the company were exchanged, compared to its average volume of 4,345,097. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. Viasat has a 12 month low of $6.69 and a 12 month high of $26.70. The firm has a fifty day simple moving average of $9.36 and a two-hundred day simple moving average of $11.83. The stock has a market capitalization of $1.43 billion, a PE ratio of -3.32 and a beta of 1.35.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VSAT. Barclays dropped their target price on shares of Viasat from $24.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 20th. William Blair reaffirmed a "market perform" rating on shares of Viasat in a report on Friday. Morgan Stanley reduced their target price on Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Viasat in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on Viasat in a research report on Friday, January 24th. They set a "neutral" rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Viasat presently has an average rating of "Hold" and an average target price of $15.43.

Insider Activity

In other news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the sale, the executive vice president now directly owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% 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 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.