William Blair Has Positive Forecast for GILT FY2024 Earnings

Gilat Satellite Networks Ltd. (NASDAQ:GILT) – Equities research analysts at William Blair raised their FY2024 earnings per share estimates for Gilat Satellite Networks in a note issued to investors on Wednesday, November 13th. William Blair analyst L. Dipalma now expects that the communications equipment provider will post earnings per share of $0.48 for the year, up from their previous estimate of $0.32. William Blair has a “Outperform” rating on the stock. The consensus estimate for Gilat Satellite Networks’ current full-year earnings is $0.48 per share. William Blair also issued estimates for Gilat Satellite Networks’ Q4 2024 earnings at $0.14 EPS.

A number of other equities analysts have also recently commented on GILT. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Friday. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Gilat Satellite Networks Stock Up 10.9 %

Shares of NASDAQ GILT opened at $5.58 on Monday. The business has a 50-day moving average of $5.01 and a 200-day moving average of $4.90. The firm has a market capitalization of $318.17 million, a price-to-earnings ratio of 19.24 and a beta of 0.59. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12 month low of $4.04 and a 12 month high of $6.80.

Hedge Funds Weigh In On Gilat Satellite Networks

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in Gilat Satellite Networks during the third quarter valued at approximately $27,000. Quadrature Capital Ltd grew its holdings in shares of Gilat Satellite Networks by 19.6% during the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 5,559 shares during the last quarter. Foundry Partners LLC raised its position in Gilat Satellite Networks by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after purchasing an additional 8,045 shares during the period. PDT Partners LLC raised its position in Gilat Satellite Networks by 51.1% in the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 9,287 shares during the period. Finally, Wedbush Securities Inc. bought a new stake in Gilat Satellite Networks in the second quarter worth $46,000. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.