Gilat Satellite Networks (NASDAQ:GILT) posted its quarterly earnings results on Tuesday. The communications equipment provider reported $0.08 EPS for the quarter, Morningstar.com reports. Gilat Satellite Networks had a net margin of 7.25% and a return on equity of 7.37%. The firm had revenue of $59.69 million for the quarter. Gilat Satellite Networks updated its FY 2019 guidance to EPS.
GILT traded down $0.17 during trading on Wednesday, hitting $8.76. The company’s stock had a trading volume of 11,371 shares, compared to its average volume of 7,487. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.51. Gilat Satellite Networks has a one year low of $7.94 and a one year high of $10.74. The stock has a market cap of $482.61 million, a price-to-earnings ratio of 28.30 and a beta of 0.64. The stock has a 50 day moving average price of $8.45.
GILT has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Gilat Satellite Networks from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th.
Several hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Gilat Satellite Networks by 67.2% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock valued at $7,747,000 after purchasing an additional 370,507 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Gilat Satellite Networks by 21.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 859,623 shares of the communications equipment provider’s stock valued at $7,272,000 after acquiring an additional 152,153 shares in the last quarter. Meitav Dash Investments Ltd. grew its stake in Gilat Satellite Networks by 25.8% during the first quarter. Meitav Dash Investments Ltd. now owns 414,972 shares of the communications equipment provider’s stock valued at $3,408,000 after acquiring an additional 84,992 shares in the last quarter. Norges Bank purchased a new position in Gilat Satellite Networks during the fourth quarter valued at $2,107,000. Finally, Menora Mivtachim Holdings LTD. grew its stake in Gilat Satellite Networks by 0.9% during the first quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock valued at $1,806,000 after acquiring an additional 1,892 shares in the last quarter. Hedge funds and other institutional investors own 16.40% of the company’s stock.
Gilat Satellite Networks Company Profile
Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.
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