KVH Industries, Inc. (KVHI) Posts Earnings Results, Beats Estimates By $0.20 EPS

KVH Industries, Inc. (NASDAQ:KVHI) posted its quarterly earnings data on Wednesday. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20, Morningstar.com reports. KVH Industries had a negative net margin of 6.35% and a positive return on equity of 1.84%. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $40.55 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue was down 12.0% compared to the same quarter last year. KVH Industries updated its Q3 guidance to $0.01-0.04 EPS and its FY17 guidance to $0.07-0.27 EPS.

KVH Industries (NASDAQ KVHI) traded down 0.46% during midday trading on Friday, reaching $10.80. 8,149 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $9.81 and its 200 day moving average is $9.29. KVH Industries has a 52 week low of $7.50 and a 52 week high of $12.75. The firm’s market capitalization is $177.61 million.

A number of equities research analysts have commented on KVHI shares. Zacks Investment Research upgraded shares of KVH Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of KVH Industries in a research note on Friday, May 12th. Finally, TheStreet upgraded shares of KVH Industries from a “d+” rating to a “c-” rating in a research note on Wednesday, June 7th.

A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in KVH Industries by 4,123.0% in the first quarter. Bank of Montreal Can now owns 11,951 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 11,668 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in KVH Industries during the first quarter valued at approximately $108,000. SG Americas Securities LLC bought a new stake in KVH Industries during the second quarter valued at approximately $108,000. Globeflex Capital L P raised its stake in KVH Industries by 17,702.7% in the first quarter. Globeflex Capital L P now owns 13,174 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 13,100 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in KVH Industries by 26.6% in the first quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

About KVH Industries

KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.