Gilat Satellite Networks Ltd. (NASDAQ:GILT) Posts Quarterly Earnings Results

Gilat Satellite Networks Ltd. (NASDAQ:GILT) released its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, Morningstar.com reports. Gilat Satellite Networks had a net margin of 1.27% and a return on equity of 6.59%. The business had revenue of $66.24 million during the quarter.

Gilat Satellite Networks (NASDAQ GILT) opened at 5.40 on Friday. The firm has a market cap of $295.25 million, a price-to-earnings ratio of 80.60 and a beta of 0.90. Gilat Satellite Networks has a 12 month low of $4.12 and a 12 month high of $6.19. The stock’s 50 day moving average is $5.47 and its 200-day moving average is $5.20.

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. TheStreet lowered shares of Gilat Satellite Networks from a “c-” rating to a “d” rating in a research report on Monday, June 26th.

A number of large investors have recently made changes to their positions in GILT. Renaissance Technologies LLC increased its stake in shares of Gilat Satellite Networks by 0.5% in the second quarter. Renaissance Technologies LLC now owns 2,723,554 shares of the communications equipment provider’s stock worth $14,054,000 after buying an additional 13,500 shares in the last quarter. Stelliam Investment Management LP bought a new stake in shares of Gilat Satellite Networks during the first quarter worth $1,698,000. Norges Bank acquired a new position in shares of Gilat Satellite Networks during the fourth quarter worth approximately $1,065,000. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Gilat Satellite Networks by 13.8% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 39,206 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 4,750 shares during the last quarter. 7.92% of the stock is currently owned by institutional investors and hedge funds.

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About Gilat Satellite Networks

Gilat Satellite Networks Ltd. is a provider of satellite-based broadband communications. The Company operates through three segments: Commercial, Mobility and Services divisions. The Company designs and manufactures satellite ground segment and networking communications equipment, which it sells to its customers either as network components (modems, Block Up converters (BUCs), antennas) or as complete network solutions (which include hubs and related terminals and services) or turnkey projects.

Earnings History for Gilat Satellite Networks (NASDAQ:GILT)

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