RigNet (RNET) Earns Coverage Optimism Rating of 0.07
Headlines about RigNet (NASDAQ:RNET) have been trending somewhat positive on Tuesday, Accern Sentiment Analysis reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RigNet earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave media stories about the Wireless communications provider an impact score of 45.967420075191 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media stories that may have impacted Accern’s analysis:
- Comparing RigNet (RNET) & CGG (CGG) (americanbankingnews.com)
- Select Energy Services (WTTR) versus RigNet (RNET) Financial Survey (americanbankingnews.com)
- Corporate News Blog – Vodafone Partially Divests its Stake in Vodacom (finance.yahoo.com)
- Charles Louis Iv Davis Sells 3,000 Shares of RigNet, Inc. (RNET) Stock (americanbankingnews.com)
- Cipher Capital LP Boosts Stake in UnitedHealth Group Incorporated (UNH) (techkenyot.com)
Shares of RigNet (RNET) traded up 2.47% on Tuesday, hitting $16.60. The company’s stock had a trading volume of 17,121 shares. RigNet has a 52 week low of $12.14 and a 52 week high of $23.90. The stock’s 50-day moving average price is $16.74 and its 200-day moving average price is $17.96. The firm’s market cap is $302.44 million.
RigNet (NASDAQ:RNET) last issued its quarterly earnings data on Monday, August 7th. The Wireless communications provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.18). RigNet had a negative net margin of 5.69% and a negative return on equity of 9.98%. The firm had revenue of $49.16 million during the quarter, compared to analyst estimates of $49.37 million. During the same period in the prior year, the company earned ($0.27) earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts expect that RigNet will post ($0.44) earnings per share for the current fiscal year.
RNET has been the subject of several research reports. BidaskClub cut RigNet from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies set a $17.00 target price on RigNet and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised RigNet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine raised RigNet from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Simmons raised their target price on RigNet from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.50.
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In other news, Director Charles Louis Iv Davis sold 3,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $16.25, for a total transaction of $48,750.00. Following the sale, the director now directly owns 40,313 shares of the company’s stock, valued at approximately $655,086.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
RigNet Company Profile
RigNet, Inc (RigNet) provides customized systems and solutions serving customers with data networking and operational requirements. The Company provides voice and data network, video conferencing and monitoring, crew welfare, asset and weather monitoring, and real-time data services. It operates through two segments: Managed Services, and Systems Integration and Automation (SI&A).
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