William Blair Has Positive Forecast for GILT FY2024 Earnings

Gilat Satellite Networks Ltd. (NASDAQ:GILT) – William Blair lifted their FY2024 earnings estimates for Gilat Satellite Networks in a research note issued to investors on Wednesday, November 13th. William Blair analyst L. Dipalma now anticipates that the communications equipment provider will post earnings of $0.48 per share for the year, up from their prior 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 research firms have also weighed in on GILT. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Friday, November 15th.

Gilat Satellite Networks Stock Performance

Shares of GILT opened at $5.44 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $310.19 million, a P/E ratio of 18.76 and a beta of 0.59. The company has a 50-day moving average of $5.03 and a two-hundred day moving average of $4.90. 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

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in Gilat Satellite Networks in the third quarter valued at approximately $27,000. Wedbush Securities Inc. purchased a new stake in Gilat Satellite Networks in the second quarter valued at approximately $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Gilat Satellite Networks in the second quarter valued at approximately $69,000. Clearline Capital LP purchased a new stake in Gilat Satellite Networks in the second quarter valued at approximately $73,000. Finally, GSA Capital Partners LLP purchased a new stake in Gilat Satellite Networks in the third quarter valued at approximately $140,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.