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

Wall Street brokerages expect that Viasat, Inc. (NASDAQ:VSATGet Rating) will report $722.11 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Viasat’s earnings. The lowest sales estimate is $708.40 million and the highest is $743.90 million. Viasat reported sales of $595.78 million in the same quarter last year, which indicates a positive year over year growth rate of 21.2%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Viasat will report full year sales of $2.81 billion for the current year, with estimates ranging from $2.79 billion to $2.83 billion. For the next financial year, analysts forecast that the business will 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 that follow Viasat.

Several equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Viasat in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Raymond James decreased their target price on Viasat from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th. Finally, Needham & Company LLC cut their price target on shares of Viasat from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, February 4th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Viasat presently has an average rating of “Buy” and a consensus price target of $59.75.

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

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-to-equity ratio of 0.80. The stock has a market capitalization of $2.78 billion, a price-to-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 stock’s fifty day moving average price is $45.51.

About Viasat (Get Rating)

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, internet, and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and advanced software and communication infrastructure 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.

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