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). The Managed Services segment provides remote communications services for offshore and onshore drilling rigs and production facilities, as well as, support vessels and other remote sites. The SI&A segment provides customized solutions for customer telecommunications systems. As of December 31, 2016, the Company provided remote communications and collaborative services to approximately 500 customers reaching approximately 900 remote sites located in approximately 50 countries on six continents. It provides managed remote communications, engineered telecommunications solutions and applications.
Industry, Sector and Symbol:
- Sector: Computer and Technology
- Industry: Oil Related Services
- Sub-Industry: Oil & Gas Equipment & Services
- Symbol: NASDAQ:RNET
- CUSIP: 76658210
- Web: www.rig.net
Capitalization:- Market Cap: $287.05 million
- Outstanding Shares: 18,219,000
Average Prices:- 50 Day Moving Avg: $17.60
- 200 Day Moving Avg: $18.38
- 52 Week Range: $11.98 - $23.90
P/E:- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: Infinity
- P/E Growth: -3.94
Sales & Book Value:- Annual Revenue: $200.61 million
- Price / Sales: 1.41
- Book Value: $6.25 per share
- Price / Book: 2.48
Profitability:- EBIDTA: $22.97 million
- Net Margins: -5.69%
- Return on Equity: -9.98%
- Return on Assets: -4.94%
Debt:- Debt-to-Equity Ratio: 0.34%
- Current Ratio: 2.50%
- Quick Ratio: 2.50%
Misc:- Average Volume: 60,516 shs.
- Beta: 0.87
- Short Ratio: 2.58
Frequently Asked Questions for RigNet (NASDAQ:RNET)
What is RigNet's stock symbol?
RigNet trades on the NASDAQ under the ticker symbol "RNET."
How were RigNet's earnings last quarter?
RigNet, Inc. (NASDAQ:RNET) posted its earnings results on Monday, August, 7th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.06) by $0.18. The business earned $49.16 million during the quarter, compared to the consensus estimate of $49.37 million. RigNet had a negative net margin of 5.69% and a negative return on equity of 9.98%. The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.27) EPS. View RigNet's Earnings History.
Where is RigNet's stock going? Where will RigNet's stock price be in 2017?
3 analysts have issued 12-month price targets for RigNet's shares. Their forecasts range from $19.00 to $22.00. On average, they anticipate RigNet's stock price to reach $20.50 in the next year. View Analyst Ratings for RigNet.
Who are some of RigNet's key competitors?
Some companies that are related to RigNet include FARO Technologies (FARO), Sapiens International Corporation N.V. (SPNS), Thermon Group Holdings (THR), Castlight Health, inc. (CSLT), Mistras Group (MG), IXYS Corporation (IXYS), Kimball Electronics (KE), ShoreTel (SHOR), Cohu (COHU), VASCO Data Security International (VDSI), Xcerra Corporation (XCRA), 21Vianet Group (VNET), PDF Solutions (PDFS), QAD (QADA), Ballard Power Systems (BLDP), Ichor Holdings (ICHR), Upland Software (UPLD) and QAD (QADB).
Who are RigNet's key executives?
RigNet's management team includes the folowing people:
- James H. Browning, Independent Chairman of the Board
- Steven Edward Pickett, President, Chief Executive Officer, Director
- Kevin J. O'Hara, Vice Chairman of the Board
- Charles E. Schneider, Chief Financial Officer, Senior Vice President
- Trent J. Jabbia, Vice President of North America Sales
- Rajesh Salem, Vice President - Strategy & Marketing
- Pal B. Jensen, Vice president - Energy Maritime
- Ed Traupman, Vice President, Systems Integration & Automation
- Jay T. Hilbert, Chief Sales Officer
- Mattia Caprioli, Independent Director
Who owns RigNet stock?
RigNet's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include FMR LLC (12.85%), Stephens Investment Management Group LLC (3.58%), Vanguard Group Inc. (3.41%), Dimensional Fund Advisors LP (2.21%), JPMorgan Chase & Co. (1.59%) and State Street Corp (1.34%). Company insiders that own RigNet stock include Charles E Schneider, Charles Louis Iv Davis, Kevin C Mulloy, Martin L Jimmerson and William D Sutton. View Institutional Ownership Trends for RigNet.
Who sold RigNet stock? Who is selling RigNet stock?
RigNet's stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Stephens Investment Management Group LLC, Granite Investment Partners LLC, GSA Capital Partners LLP, JPMorgan Chase & Co., Vanguard Group Inc., Parametric Portfolio Associates LLC and Welch & Forbes LLC. Company insiders that have sold RigNet stock in the last year include Charles E Schneider, Charles Louis Iv Davis and Kevin C Mulloy. View Insider Buying and Selling for RigNet.
Who bought RigNet stock? Who is buying RigNet stock?
RigNet's stock was purchased by a variety of institutional investors in the last quarter, including AJO LP, Algert Global LLC, Northern Trust Corp, Dupont Capital Management Corp, State Street Corp, Dimensional Fund Advisors LP, OxFORD Asset Management LLP and Strs Ohio. View Insider Buying and Selling for RigNet.
How do I buy RigNet stock?
Shares of RigNet can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is RigNet's stock price today?
One share of RigNet stock can currently be purchased for approximately $15.50.
MarketBeat Community Rating for RigNet (NASDAQ RNET)MarketBeat's community ratings are surveys of what our community members think about RigNet and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Consensus Ratings for RigNet (NASDAQ:RNET) (How are Consensus Ratings Calculated?) MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
| Ratings Breakdown: | 2 Hold Ratings, 1 Buy Rating |
| Consensus Rating: | Hold (Score: 2.33) |
| Consensus Price Target: | $20.50 (32.26% upside) |
Analysts' Ratings History for RigNet (NASDAQ:RNET)
Show:
| Date | Firm | Action | Rating | Price Target | Impact on Share Price | Details |
|---|
| 7/3/2017 | Simmons | Boost Price Target | Neutral | $17.00 -> $19.00 | Medium |  |
| 3/11/2017 | Jefferies Group LLC | Reiterated Rating | Buy | $17.00 -> $22.00 | N/A | |
| 8/17/2016 | Oppenheimer Holdings, Inc. | Reiterated Rating | Market Perform | | N/A | |
| 6/28/2016 | Sidoti | Upgrade | Neutral -> Buy | $14.00 | N/A | |
| 3/6/2016 | Piper Jaffray Companies | Reiterated Rating | Hold | | N/A | |
| 11/11/2015 | William Blair | Reiterated Rating | Outperform | | N/A | |
(Data available from 8/16/2015 forward)
Earnings History for RigNet (NASDAQ:RNET)Earnings History by Quarter for RigNet (NASDAQ RNET)| Date | Quarter | Consensus Estimate | Actual EPS | Revenue Estimate | Actual Revenue | Release Link | Conference Call | Details |
|---|
| 8/7/2017 | Q2 2017 | ($0.06) | ($0.24) | $49.37 million | $49.16 million | View | Listen | |
| 5/8/2017 | Q1 2017 | ($0.13) | ($0.11) | $49.46 million | $48.10 million | View | Listen | |
| 3/6/2017 | Q4 2016 | ($0.09) | ($0.21) | $48.21 million | $52.76 million | View | Listen | |
| 11/7/2016 | Q3 | ($0.10) | ($0.09) | $52.37 million | $50.60 million | View | Listen | |
| 8/8/2016 | Q2 | $0.02 | ($0.27) | $58.50 million | $54.91 million | View | N/A | |
| 5/9/2016 | Q1 | $0.06 | $0.52 | $58.91 million | $62.30 million | View | N/A | |
| 2/29/2016 | Q4 | $0.12 | $0.03 | $60.00 million | $52.19 million | View | Listen | |
| 11/9/2015 | Q3 | $0.26 | ($0.62) | $73.14 million | $66.32 million | View | N/A | |
| 8/4/2015 | Q2 | $0.26 | $0.34 | $76.10 million | $75.10 million | View | Listen | |
| 5/11/2015 | Q115 | $0.26 | ($0.06) | $81.48 million | $77.70 million | View | Listen | |
| 3/3/2015 | Q414 | $0.34 | $0.78 | $88.20 million | $86.70 million | View | Listen | |
| 11/4/2014 | Q314 | $0.38 | $0.34 | $84.70 million | $87.82 million | View | N/A | |
| 8/4/2014 | Q214 | $0.32 | $0.35 | $80.79 million | $80.70 million | View | N/A | |
| 5/12/2014 | Q114 | $0.27 | $0.25 | $66.26 million | $75.00 million | View | N/A | |
| 3/5/2014 | Q413 | $0.26 | $0.38 | $57.84 million | $59.70 million | View | N/A | |
| 11/4/2013 | Q313 | $0.28 | $0.29 | $54.33 million | $56.90 million | View | N/A | |
| 8/5/2013 | Q2 2013 | | $0.28 | $33.50 million | $51.30 million | View | N/A | |
| 11/8/2012 | Q312 | $0.20 | $0.19 | $32.00 million | $47.90 million | View | N/A | |
(Data available from 1/1/2011 forward)
Earnings Estimates for RigNet (NASDAQ:RNET)2017 EPS Consensus Estimate: ($0.13)
2018 EPS Consensus Estimate: $0.44
| Quarter | Number of Estimates | Low Estimate | High Estimate | Average Estimate |
|---|
| Q1 2017 | 1 | ($0.02) | ($0.02) | ($0.02) |
| Q2 2017 | 1 | ($0.03) | ($0.03) | ($0.03) |
| Q3 2017 | 1 | ($0.04) | ($0.04) | ($0.04) |
| Q4 2017 | 1 | ($0.04) | ($0.04) | ($0.04) |
| Q1 2018 | 1 | $0.16 | $0.16 | $0.16 |
| Q2 2018 | 1 | $0.13 | $0.13 | $0.13 |
| Q3 2018 | 1 | $0.09 | $0.09 | $0.09 |
| Q4 2018 | 1 | $0.06 | $0.06 | $0.06 |
(Data provided by Zacks Investment Research)
Dividend History for RigNet (NASDAQ:RNET)
No dividend announcements for this company have been tracked by MarketBeat.com
Insider Trading and Institutional Ownership History for RigNet (NASDAQ:RNET)Insider Ownership Percentage: 1.20%
Institutional Ownership Percentage: 98.41%
Insider Trades by Quarter for RigNet (NASDAQ:RNET)| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Details |
|---|
| 5/24/2017 | Charles Louis Iv Davis | Director | Sell | 1,750 | $16.87 | $29,522.50 | |
| 3/28/2017 | Charles Louis Iv Davis | Director | Sell | 1,500 | $19.85 | $29,775.00 | |
| 3/24/2017 | Charles E. Schneider | CFO | Sell | 2,280 | $19.88 | $45,326.40 | |
| 3/22/2017 | Charles E. Schneider | CFO | Sell | 4,220 | $20.31 | $85,708.20 | |
| 9/2/2016 | Kevin C Mulloy | Director | Sell | 3,650 | $12.14 | $44,311.00 | |
| 5/31/2016 | Kevin C Mulloy | Director | Sell | 3,700 | $12.80 | $47,360.00 | |
| 5/27/2016 | Martin L Jimmerson | CEO | Sell | 29,192 | $12.51 | $365,191.92 | |
| 5/26/2016 | Charles Louis Iv Davis | Director | Sell | 3,500 | $12.42 | $43,470.00 | |
| 5/26/2016 | Martin L Jimmerson | CEO | Sell | 28,683 | $12.59 | $361,118.97 | |
| 3/29/2016 | Charles Louis Iv Davis | Director | Sell | 3,907 | $15.49 | $60,519.43 | |
| 12/9/2015 | Charles Louis Iv Davis | Director | Sell | 10,000 | $20.96 | $209,600.00 | |
| 12/3/2015 | Charles Louis Iv Davis | Director | Sell | 2,000 | $22.15 | $44,300.00 | |
| 9/2/2015 | William D Sutton | VP | Sell | 3,444 | $27.84 | $95,880.96 | |
| 8/11/2015 | James H Browning | Director | Buy | 2,000 | $27.00 | $54,000.00 | |
| 3/23/2015 | Mark B Slaughter | CEO | Buy | 2,000 | $28.65 | $57,300.00 | |
| 3/9/2015 | Martin L Jimmerson | CFO | Sell | 2,000 | $27.81 | $55,620.00 | |
| 3/6/2015 | William D Sutton | VP | Sell | 2,030 | $29.33 | $59,539.90 | |
| 12/11/2014 | Kevin C Mulloy | Director | Sell | 1,100 | $38.44 | $42,284.00 | |
| 12/10/2014 | Keith Olsen | Director | Sell | 1,000 | $40.73 | $40,730.00 | |
| 9/11/2014 | Kevin C Mulloy | Director | Sell | 1,000 | $45.88 | $45,880.00 | |
| 9/9/2014 | Keith Olsen | Director | Sell | 1,000 | $46.19 | $46,190.00 | |
| 6/10/2014 | Keith Olsen | Director | Sell | 1,000 | $49.67 | $49,670.00 | |
| 6/9/2014 | Hansen Morten Hagland | VP | Sell | 15,515 | $50.00 | $775,750.00 | |
| 4/1/2014 | William Sutton | VP | Sell | 5,000 | $53.42 | $267,100.00 | |
| 3/26/2014 | Mark Slaughter | CEO | Sell | 25,000 | $54.63 | $1,365,750.00 | |
| 3/19/2014 | Martin Jimmerson | CFO | Sell | 25,000 | $55.25 | $1,381,250.00 | |
| 3/11/2014 | Keith Olsen | Director | Sell | 1,000 | $53.78 | $53,780.00 | |
| 3/6/2014 | James Crenshaw | VP | Sell | 3,414 | $56.48 | $192,822.72 | |
| 11/20/2013 | Kevin Mulloy | Director | Sell | 1,400 | $38.74 | $54,236.00 | |
| 10/22/2013 | Mark B Slaughter | CEO | Sell | 35,000 | $40.79 | $1,427,650.00 | |
| 8/22/2013 | Charles Louis Iv Davis | Director | Sell | 1,800 | $33.42 | $60,156.00 | |
| 8/9/2013 | Brent Whittington | Director | Buy | 1,800 | $27.84 | $50,112.00 | |
| 5/15/2013 | Charles Louis Iv Davis | Director | Sell | 2,750 | $24.65 | $67,787.50 | |
| 2/5/2013 | Mark B Slaughter | CEO | Sell | 2,674 | $22.00 | $58,828.00 | |
| 2/5/2013 | Martin L Jimmerson | CFO | Sell | 1,226 | $22.00 | $26,972.00 | |
(Data available from 1/1/2013 forward)
Headline Trends for RigNet (NASDAQ:RNET)
Latest Headlines for RigNet (NASDAQ:RNET)
| Source: |
|
| Date | Headline |
|---|
 | RigNet, Inc. breached its 50 day moving average in a Bearish Manner : RNET-US : August 9, 2017
finance.yahoo.com - August 11 at 8:10 AM |
| RigNet, Inc. :RNET-US: Earnings Analysis: Q2, 2017 By the Numbers : August 10, 2017
finance.yahoo.com - August 11 at 8:10 AM |
| Edited Transcript of RNET earnings conference call or presentation 8-Aug-17 3:00pm GMT
finance.yahoo.com - August 9 at 7:01 AM |
| Here's Why RigNet Stock Is Slumping Today
finance.yahoo.com - August 9 at 7:01 AM |
 | RigNet, Inc. (NASDAQ:RNET) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS
www.americanbankingnews.com - August 8 at 1:36 PM |
 | RigNet Inc Is Still Trying to Find Its Footing
www.fool.com - August 8 at 10:30 AM |
| This is What Fueled RigNet Inc.'s Nearly 15% Rebound in July
finance.yahoo.com - August 8 at 6:44 AM |
| This is What Fueled RigNet Inc.'s Nearly 15% Rebound in July
finance.yahoo.com - August 8 at 6:44 AM |
| RigNet Announces Second Quarter 2017 Earnings Results
finance.yahoo.com - August 8 at 6:44 AM |
| RigNet Announces Second Quarter 2017 Earnings Results
finance.yahoo.com - August 8 at 6:44 AM |
| RigNet reports 2Q loss
finance.yahoo.com - August 8 at 6:44 AM |
| RigNet reports 2Q loss
finance.yahoo.com - August 8 at 6:44 AM |
| This is What Fueled RigNet Inc.'s Nearly 15% Rebound in July
www.fool.com - August 7 at 11:13 AM |
| Reviewing CGG SA (CGV) and RigNet (RNET)
www.americanbankingnews.com - August 5 at 10:46 PM |
| Head-To-Head Analysis: RigNet (RNET) and Profire Energy (PFIE)
www.americanbankingnews.com - August 5 at 8:38 PM |
| Contrasting RigNet (RNET) and Willbros Group (WG)
www.americanbankingnews.com - August 3 at 8:08 AM |
 | RigNet Completes Asset Acquisition of Energy Satellite Services (ESS)
www.marketwatch.com - August 2 at 7:15 AM |
 | Cyphre Security Solutions, LLC, a RigNet Company, and Fornetix Join Forces to Deliver Advanced Key Protection, Management and Encryption Solutions
www.nasdaq.com - August 2 at 7:15 AM |
| RigNet Completes Asset Acquisition of Energy Satellite Services (ESS)
finance.yahoo.com - August 1 at 6:03 AM |
| RigNet Completes Asset Acquisition of Energy Satellite Services (ESS)
finance.yahoo.com - August 1 at 6:03 AM |
| Fornetix and Cyphre Security Solutions LLC, a RigNet Company, Join Forces to Deliver Advanced Key Protection, Management and Encryption Solutions
finance.yahoo.com - July 29 at 6:50 AM |
| Fornetix and Cyphre Security Solutions LLC, a RigNet Company, Join Forces to Deliver Advanced Key Protection, Management and Encryption Solutions
finance.yahoo.com - July 29 at 6:49 AM |
| RigNet, Inc. (NASDAQ:RNET) Given Consensus Recommendation of "Hold" by Analysts
www.americanbankingnews.com - July 27 at 5:46 PM |
| RigNet Announces Second Quarter 2017 Earnings Release Date and Conference Call Information
finance.yahoo.com - July 26 at 6:55 AM |
| RigNet Announces Strategic Asset Acquisition of Data Technology Solutions (DTS)
finance.yahoo.com - July 25 at 5:47 AM |
| Head to Head Comparison: RigNet (RNET) vs. Profire Energy (PFIE)
www.americanbankingnews.com - July 23 at 4:21 PM |
| RigNet, Inc. (NASDAQ:RNET) Upgraded at Zacks Investment Research
www.americanbankingnews.com - July 19 at 8:53 AM |
| Reviewing RigNet (RNET) & Cypress Energy Partners, L.P. (CELP)
www.americanbankingnews.com - July 19 at 8:38 AM |
| Head to Head Review: RigNet (NASDAQ:RNET) vs. CGG SA (CGV)
www.americanbankingnews.com - July 13 at 2:19 PM |
| RigNet, Inc. – Value Analysis (NASDAQ:RNET) : July 12, 2017
finance.yahoo.com - July 13 at 8:50 AM |
| RigNet, Inc. breached its 50 day moving average in a Bullish Manner : RNET-US : July 11, 2017
finance.yahoo.com - July 11 at 4:32 PM |
| Analyzing RigNet (NASDAQ:RNET) and North American Energy Partners (NOA)
www.americanbankingnews.com - July 11 at 7:36 AM |
| RigNet's (RNET) "Neutral" Rating Reiterated at Simmons
www.americanbankingnews.com - July 3 at 12:28 PM |
| RigNet is Awarded a Systems Integration Contract For Expansion of a Large Scale Midstream Energy Facility
finance.yahoo.com - June 21 at 4:27 AM |
 | RigNet is Awarded a Systems Integration Contract For Expansion of a Large Scale Midstream Energy Facility
feeds.benzinga.com - June 20 at 10:23 AM |
 | Houston energy tech company adds to C-suite
www.bizjournals.com - June 10 at 12:47 AM |
| RigNet’s SI&A Business Unit Wins Systems Integration Contract For New North American Downstream Energy Facility
finance.yahoo.com - June 6 at 9:14 PM |
 | RigNet (RNET) Confirms Brendan Sullivan as New CTO & CIO
www.streetinsider.com - May 30 at 9:29 AM |
| RigNet Announces Brendan Sullivan as CTO/CIO
finance.yahoo.com - May 30 at 9:29 AM |
| Charles Louis Iv Davis Sells 1,750 Shares of RigNet Inc (RNET) Stock
www.americanbankingnews.com - May 24 at 8:24 PM |
| ETFs with exposure to RigNet, Inc. : May 23, 2017
finance.yahoo.com - May 23 at 6:58 PM |
| RigNet (RNET) to Acquire Cyphre Security Solutions
www.streetinsider.com - May 23 at 9:36 AM |
 | RigNet acquires cyber-security company
seekingalpha.com - May 22 at 11:39 AM |
| RigNet Announces Acquisition of Cyphre Security Solutions (CSS), A Provider of Data Encryption Services
finance.yahoo.com - May 22 at 9:20 AM |
| Q2 2017 EPS Estimates for RigNet Inc (RNET) Reduced by William Blair
www.americanbankingnews.com - May 18 at 8:01 AM |
| ETFs with exposure to RigNet, Inc. : May 11, 2017
finance.yahoo.com - May 11 at 8:02 PM |
| RigNet -1.8% as it files shelf for 4.75M-share secondary
seekingalpha.com - May 11 at 1:56 PM |
| Edited Transcript of RNET earnings conference call or presentation 9-May-17 3:00pm GMT
finance.yahoo.com - May 10 at 11:11 AM |
| RigNet, Inc. :RNET-US: Earnings Analysis: Q1, 2017 By the Numbers : May 10, 2017
finance.yahoo.com - May 10 at 11:11 AM |
| RigNet Inc (RNET) Lowered to "Sell" at Zacks Investment Research
www.americanbankingnews.com - May 10 at 7:24 AM |
RigNet (RNET) Chart for Wednesday, August, 16, 2017
