Gilat Satellite Networks (NASDAQ:GILT) Stock Rating Lowered by StockNews.com

Gilat Satellite Networks (NASDAQ:GILT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Gilat Satellite Networks Stock Down 2.3 %

NASDAQ:GILT opened at $5.60 on Monday. The firm has a market capitalization of $319.30 million, a P/E ratio of 13.33 and a beta of 0.59. Gilat Satellite Networks has a 1-year low of $4.51 and a 1-year high of $7.16. The company’s fifty day moving average price is $5.89 and its 200-day moving average price is $6.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.90 and a quick ratio of 1.60.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a net margin of 8.83% and a return on equity of 7.42%.

Institutional Trading of Gilat Satellite Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Gilat Satellite Networks by 74.8% during the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 1,498 shares during the period. Deutsche Bank AG purchased a new position in Gilat Satellite Networks during the fourth quarter valued at $27,000. Bank of New York Mellon Corp purchased a new position in Gilat Satellite Networks during the first quarter valued at $2,338,000. Quadrant Capital Group LLC lifted its holdings in Gilat Satellite Networks by 150.5% during the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 4,733 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Gilat Satellite Networks during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.