Gilat Satellite Networks Ltd reports results for the quarter ended June 30 - Earnings Summary

• Gilat Satellite Networks Ltd GILT reported quarterly adjusted earnings of 21 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 2 cents. The mean expectation of four analysts for the quarter was for earnings of 3 cents per share. Wall Street expected results to range from zero cents to 7 cents per share.

• Revenue rose 37% to $104.97 million from a year ago; analysts expected $100.09 million.

• Gilat Satellite Networks Ltd's reported EPS for the quarter was 17 cents​.

• The company reported quarterly net income of $9.83 million.

• Gilat Satellite Networks Ltd shares had risen by 3.7% this quarter and gained 19.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 58.3% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is also "buy"

• Wall Street's median 12-month price target for Gilat Satellite Networks Ltd is $8.40, about 12.5% above its last closing price of $7.35

This summary was machine generated from LSEG data August 6 at 05:48 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)