RigNet, Inc. (NASDAQ:RNET) provider of digital technology solutions to engery industry, is expected to report third quarter earnings results, after market close, on Thursday 5th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter loss of $ 0.35 per share.
Looking ahead, the full year loss are expected at $ 0.4 per share on the revenues of $ 208.94 million.
Previous Quarter Performance
RigNet, Inc. recorded loss for the second quarter of $ 0.21 per share, from the revenue of $ 53.39 million. The quarterly revenues contracted 11.50 percent compared with the same quarter last year. Wall street analysts are predicting, RNET to report 2Q20 loss of $ 0.62 per share from revenue of $ 48.42 million. The bottom line results beat street analysts by $ 0.41 or 66.13 percent, at the same time, top line results outshined analysts by $ 4.97 million or 10.26 percent.
Stock Performance
Shares of RigNet, Inc. traded low $ -0.14 or -3.73 percent on Wednesday, reaching $ 3.61 with volume of 100.80 thousand shares. RigNet, Inc. has traded high as $ 3.77 and has cracked $ 3.55 on the downward trend
The closing price of $ 3.61, representing a 387.01 % increase from the 52 week low of $ 0.77 and a 45.73 % decrease over the 52 week high of $ 6.91.
The company has a market capital of $ 74.20 million and is part of the Technology sector and Communication Equipment industry.
RigNet, Inc., a technology company, provides customized communications services, applications, and cybersecurity solutions in the United States and internationally. The company operates through three segments: Managed Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration. The Managed Services segment provides remote communication, telephony, and technology services for offshore and onshore drilling rigs and production facilities, support vessels, and other remote sites.
