KVH Industries (NASDAQ:KVHI) issued its earnings results on Friday. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06), Morningstar.com reports. The company had revenue of $41.00 million during the quarter, compared to analysts’ expectations of $40.32 million. KVH Industries had a negative net margin of 6.16% and a negative return on equity of 4.30%. KVH Industries updated its FY 2019 guidance to $-0.53–0.31 EPS and its Q3 2019 guidance to $-0.14–0.05 EPS.
Shares of NASDAQ KVHI traded down $0.28 during mid-day trading on Friday, reaching $9.82. 19,223 shares of the company’s stock were exchanged, compared to its average volume of 21,736. The firm has a market capitalization of $180.59 million, a price-to-earnings ratio of -81.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.18 and a quick ratio of 0.78. KVH Industries has a 52-week low of $9.09 and a 52-week high of $13.20. The stock’s 50-day moving average is $10.35.
Several analysts have issued reports on the company. Chardan Capital set a $20.00 target price on KVH Industries and gave the company a “buy” rating in a report on Tuesday, May 14th. B. Riley set a $15.00 target price on KVH Industries and gave the company a “buy” rating in a report on Monday, May 13th. ValuEngine upgraded KVH Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 17th. Raymond James set a $12.00 target price on KVH Industries and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 target price (down from $14.00) on shares of KVH Industries in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its holdings in shares of KVH Industries by 96.1% during the 1st quarter. Moors & Cabot Inc. now owns 199,936 shares of the communications equipment provider’s stock worth $2,028,000 after purchasing an additional 97,968 shares during the period. SPC Financial Inc. boosted its holdings in KVH Industries by 92.1% during the 1st quarter. SPC Financial Inc. now owns 41,610 shares of the communications equipment provider’s stock valued at $424,000 after acquiring an additional 19,955 shares during the period. BlackRock Inc. boosted its holdings in KVH Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,209,227 shares of the communications equipment provider’s stock valued at $12,443,000 after acquiring an additional 19,010 shares during the period. B. Riley Financial Inc. purchased a new position in KVH Industries during the 1st quarter valued at about $255,000. Finally, White Pine Capital LLC purchased a new position in KVH Industries during the 1st quarter valued at about $401,000. Institutional investors and hedge funds own 55.02% of the company’s stock.
About KVH Industries
KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.
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