Gilat Satellite Networks Ltd. (NASDAQ:GILT) Forecasted to Post Q3 2024 Earnings of $0.08 Per Share

Gilat Satellite Networks Ltd. (NASDAQ:GILT) – Analysts at William Blair issued their Q3 2024 EPS estimates for Gilat Satellite Networks in a note issued to investors on Thursday, September 26th. William Blair analyst L. Dipalma anticipates that the communications equipment provider will earn $0.08 per share for the quarter. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Gilat Satellite Networks’ Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.32 EPS, FY2025 earnings at $0.44 EPS and FY2026 earnings at $0.70 EPS.

Several other brokerages also recently weighed in on GILT. Needham & Company LLC reissued a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a research report on Thursday, August 8th. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 19th.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT opened at $5.13 on Monday. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $6.80. The company has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $4.99. The company has a market capitalization of $292.50 million, a price-to-earnings ratio of 12.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.14.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a net margin of 6.80% and a return on equity of 8.23%. The company had revenue of $76.63 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Gilat Satellite Networks by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after acquiring an additional 24,204 shares during the last quarter. Foundry Partners LLC lifted its stake in shares of Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after buying an additional 177,675 shares in the last quarter. AWM Investment Company Inc. bought a new position in Gilat Satellite Networks in the 1st quarter worth $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilat Satellite Networks in the 2nd quarter worth $3,000,000. Finally, ARK Investment Management LLC boosted its holdings in Gilat Satellite Networks by 12.4% in the 2nd quarter. ARK Investment Management LLC now owns 403,249 shares of the communications equipment provider’s stock worth $1,803,000 after buying an additional 44,499 shares during the period. Hedge funds and other institutional investors 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. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.