Viasat, Inc. (NASDAQ:VSAT) Expected to Post Quarterly Sales of $722.11 Million

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Wall Street brokers expect Viasat, Inc. (NASDAQ: VSATGet a rating) will report $722.11 million in sales for the current quarter, Zacks reports. Five analysts have released earnings estimates for Viasat. The lowest sales estimate is $708.40 million and the highest is $743.90 million. Viasat recorded sales of $595.78 million in the same quarter last year, indicating a positive growth rate of 21.2% year-on-year. The company is expected to release its next earnings report on Monday, January 1.

According to Zacks, analysts expect Viasat to report annual sales of $2.81 billion for the current year, with estimates ranging from $2.79 billion to $2.83 billion. For the next fiscal year, analysts expect the company to post sales of $3.13 billion, with estimates ranging from $2.91 billion to $3.51 billion. Zacks sales averages are an average based on a survey of analysts who follow Viasat.

Several equity research analysts have recently released reports on the company. StockNews.com assumed coverage on Viasat in a Thursday, March 31, research report. They issued a “holding” rating on the stock. Raymond James lowered its price target on Viasat from $62.00 to $58.00 and set an “outperform” rating on the stock in a Friday, Feb. 4 research report. Finally, Needham & Company LLC cut its price target on Viasat shares from $70.00 to $66.00 and set a “buy” rating for the company in a Friday, Feb. 4 research note. Two investment analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat, Viasat currently has an average rating of “Buy” and a consensus price target of $59.75.

A number of institutional investors and hedge funds have recently changed their positions in VSATs. Norges Bank bought a new position in Viasat during the fourth quarter worth approximately $29,243,000. BlackRock Inc. increased its stake in Viasat shares by 10.0% in the third quarter. BlackRock Inc. now owns 6,078,298 shares of the communications equipment provider valued at $334,733,000 after acquiring an additional 554,089 shares in the last quarter. Morgan Stanley increased its stake in Viasat shares by 240.7% in the second quarter. Morgan Stanley now owns 449,084 shares of the communications equipment provider valued at $22,382,000 after acquiring an additional 317,286 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Viasat shares by 19.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,623,487 shares of the communications equipment provider valued at $89,408,000 after acquiring an additional 267,074 shares in the last quarter. Finally, Waypoint Capital Advisors LLC bought a new position in shares of Viasat in the fourth quarter worth approximately $6,071,000. Hedge funds and other institutional investors hold 83.19% of the company’s shares.

Shares of NASDAQ:VSAT opened at $37.39 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt ratio of 0.80. The stock has a market capitalization of $2.78 billion, a price-earnings ratio of 128.93 and a beta of 1.18. Viasat has a 1-year low of $36.20 and a 1-year high of $68.76. The fifty-day moving average price of the stock is $45.51.

About Viasat (Get a rating)

Viasat, Inc provides broadband and communications products and services worldwide. The Company’s Satellite Services segment offers fixed broadband services via satellite, including high-speed Internet access and voice over Internet protocol services to consumers and businesses; in-flight entertainment, internet and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite internet services to power offshore vessels, cruise ships, consumer ferries and yachts; and advanced software and communications infrastructure services, which include ultra-secure IP connectivity solutions, bandwidth-optimized over-the-top applications, Internet of Things Industrial Big Data enablement and industry-leading machine learning analytics.

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