Gilat Satellite Networks (NASDAQ:GILT) issued its earnings results on Tuesday. The communications equipment provider reported $0.06 earnings per share for the quarter, Morningstar.com reports. The company had revenue of $62.11 million for the quarter. Gilat Satellite Networks had a net margin of 6.91% and a return on equity of 7.54%. Gilat Satellite Networks updated its FY 2019 guidance to EPS.
Shares of Gilat Satellite Networks stock traded down $0.16 during trading on Wednesday, hitting $8.72. 40 shares of the stock were exchanged, compared to its average volume of 7,381. The firm has a market capitalization of $490.55 million, a P/E ratio of 29.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.60 and a current ratio of 1.75. Gilat Satellite Networks has a 12 month low of $7.76 and a 12 month high of $10.74.
Several institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Gilat Satellite Networks by 67.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 921,528 shares of the communications equipment provider’s stock worth $7,747,000 after acquiring an additional 370,507 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Gilat Satellite Networks by 1.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 707,470 shares of the communications equipment provider’s stock worth $6,261,000 after acquiring an additional 7,675 shares during the last quarter. Meitav Dash Investments Ltd. grew its position in shares of 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 worth $3,408,000 after acquiring an additional 84,992 shares during the last quarter. Norges Bank bought a new position in Gilat Satellite Networks in the 4th quarter valued at about $2,107,000. Finally, Menora Mivtachim Holdings LTD. grew its position in Gilat Satellite Networks by 0.9% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock valued at $1,806,000 after buying an additional 1,892 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.
About Gilat Satellite Networks
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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