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: $284.93 million
- Outstanding Shares: 18,028,000
Average Prices:- 50 Day Moving Avg: $17.10
- 200 Day Moving Avg: $19.51
- 52 Week Range: $10.86 - $23.90
P/E:- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: Infinity
- P/E Growth: -3.85
Sales & Book Value:- Annual Revenue: $206.35 million
- Price / Sales: 1.42
- Book Value: $6.25 per share
- Price / Book: 2.59
Profitability:- EBIDTA: $25.82 million
- Net Margins: -5.79%
- Return on Equity: -10.36%
- Return on Assets: -5.04%
Debt:- Debt-to-Equity Ratio: 0.40%
- Current Ratio: 3.30%
- Quick Ratio: 3.30%
Misc:- Average Volume: 47,430 shs.
- Beta: 0.88
- Short Ratio: 3.02
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) issued its quarterly earnings data on Monday, May, 8th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm earned $48.10 million during the quarter, compared to the consensus estimate of $49.46 million. RigNet had a negative return on equity of 10.36% and a negative net margin of 5.79%. The company's quarterly revenue was down 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) earnings per share. View RigNet's Earnings History.
Where is RigNet's stock going? Where will RigNet's stock price be in 2017?
2 equities research analysts have issued 12-month price objectives for RigNet's stock. Their forecasts range from $22.00 to $22.00. On average, they expect RigNet's share price to reach $22.00 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 VASCO Data Security International (VDSI), MobileIron (MOBL), Sapiens International Corporation N.V. (SPNS), Castlight Health, inc. (CSLT), Babcock (BW), Ichor Holdings (ICHR), PDF Solutions (PDFS), Xcerra Corporation (XCRA), IXYS Corporation (IXYS), QAD (QADA), Ballard Power Systems (BLDP), QAD (QADB), Kimball Electronics (KE), Control4 Corporation (CTRL), Actua Corporation (ACTA), Comtech Telecommunications Corp. (CMTL), XO Group (XOXO) and Cohu (COHU).
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
- William D. Sutton, Senior Vice President, General Counsel
- 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
Who owns RigNet stock?
RigNet's stock is owned by a variety of of retail and institutional investors. Top institutional investors include FMR LLC (13.19%), Stephens Investment Management Group LLC (3.90%), Credit Agricole S A (3.76%), Vanguard Group Inc. (3.53%), Skandinaviska Enskilda Banken AB publ (3.06%) and OppenheimerFunds Inc. (3.02%). Company insiders that own RigNet stock include Charles E Schneider, Charles Louis Iv Davis, James H Browning, 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 Thomson Horstmann & Bryant Inc., Vanguard Group Inc., Morgan Stanley, Parametric Portfolio Associates LLC, Welch & Forbes LLC, JPMorgan Chase & Co., Granite Investment Partners LLC and TIAA CREF Investment Management 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 Credit Agricole S A, FMR LLC, Cannell Capital LLC, Dimensional Fund Advisors LP, Renaissance Technologies LLC, TFS Capital LLC, Trexquant Investment LP and Stephens Investment Management Group LLC. 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 $16.20.
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: | 1 Hold Rating, 1 Buy Rating |
| Consensus Rating: | Buy (Score: 2.50) |
| Consensus Price Target: | $22.00 (35.80% upside) |
Analysts' Ratings History for RigNet (NASDAQ:RNET)
Show:
| Date | Firm | Action | Rating | Price Target | Impact on Share Price | Details |
|---|
| 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 | |
| 3/3/2016 | Simmons | Lower Price Target | Neutral | $19.00 -> $16.00 | N/A | |
| 11/11/2015 | William Blair | Reiterated Rating | Outperform | | N/A | |
(Data available from 6/29/2015 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 |
|---|
| 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: 99.32%
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 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 Inc (RNET) Announces Quarterly Earnings Results
www.americanbankingnews.com - May 9 at 11:48 AM |
| RigNet Inc. Heads Back in Reverse
finance.yahoo.com - May 9 at 10:45 AM |
| Investor Network: RigNet, Inc. to Host Earnings Call
finance.yahoo.com - May 9 at 10:45 AM |
| RigNet Announces First Quarter 2017 Earnings Results
finance.yahoo.com - May 8 at 6:56 PM |
| RigNet reports 1Q loss
finance.yahoo.com - May 8 at 6:56 PM |
| RigNet Inc (RNET) Short Interest Update
www.americanbankingnews.com - May 7 at 11:22 AM |
| RigNet, Inc. – Value Analysis (NASDAQ:RNET) : May 2, 2017
finance.yahoo.com - May 3 at 7:23 PM |
| Somewhat Positive Press Coverage Extremely Likely to Impact RigNet (RNET) Stock Price
www.americanbankingnews.com - May 2 at 3:38 PM |
| RigNet, Inc. breached its 50 day moving average in a Bearish Manner : RNET-US : May 1, 2017
finance.yahoo.com - May 1 at 10:10 AM |
| Somewhat Favorable News Coverage Very Likely to Impact RigNet (RNET) Share Price
www.americanbankingnews.com - April 28 at 6:54 PM |
| RigNet Announces First Quarter 2017 Earnings Release Date and Conference Call Information
finance.yahoo.com - April 27 at 8:02 PM |
| RigNet (RNET) Earns Media Impact Score of -0.12
www.americanbankingnews.com - April 25 at 1:01 PM |
| Brokerages Anticipate RigNet Inc (RNET) Will Post Quarterly Sales of $49.84 Million
www.americanbankingnews.com - April 23 at 9:53 AM |
| Zacks: Analysts Anticipate RigNet Inc (RNET) to Post -$0.13 Earnings Per Share
www.americanbankingnews.com - April 21 at 7:28 AM |
| RigNet (RNET) Earns News Sentiment Score of -0.10
www.americanbankingnews.com - April 20 at 1:31 PM |
| RigNet (RNET) Receiving Positive Media Coverage, Analysis Shows
www.americanbankingnews.com - April 17 at 1:23 PM |
| Somewhat Critical Press Coverage Extremely Likely to Effect RigNet (RNET) Share Price
www.americanbankingnews.com - April 13 at 12:22 PM |
| Q1 2017 EPS Estimates for RigNet Inc (RNET) Cut by Analyst
www.americanbankingnews.com - April 12 at 8:00 AM |
| Brokers Set Expectations for RigNet Inc's FY2018 Earnings (RNET)
www.americanbankingnews.com - April 11 at 3:10 PM |
| Here's What Fueled RigNet Inc.'s Nearly 17% Surge in March
finance.yahoo.com - April 7 at 12:20 PM |
| RIGNET, INC. Files SEC form 8-K, Change in Directors or Principal Officers
biz.yahoo.com - March 31 at 7:45 PM |
| Insider Selling: RigNet Inc (RNET) Director Sells 1,500 Shares of Stock
www.americanbankingnews.com - March 29 at 4:30 PM |
| RigNet deploys its first deep water 4G LTE system in the Gulf of Mexico and announces dramatic capacity increases to its state-of-the-art licensed 4G wireless network
finance.yahoo.com - March 28 at 7:26 PM |
| RigNet Inc (RNET) CFO Charles E. Schneider Sells 2,280 Shares
www.americanbankingnews.com - March 24 at 4:25 PM |
| RigNet Inc (RNET) CFO Charles E. Schneider Sells 4,220 Shares
www.americanbankingnews.com - March 22 at 8:06 PM |
| Trent J. Jabbia Named as Vice President of North America Sales at RigNet, Inc.
finance.yahoo.com - March 22 at 7:29 PM |
| RigNet Inc (RNET) Receives Buy Rating from Jefferies Group LLC
www.americanbankingnews.com - March 11 at 7:21 PM |
 | Edited Transcript of RNET earnings conference call or presentation 7-Mar-17 4:00pm GMT
us.rd.yahoo.com - March 8 at 8:38 AM |
| RIGNET, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits
us.rd.yahoo.com - March 7 at 9:25 AM |
 | RigNet Announces Fourth Quarter and Full Year 2016 Earnings Results
globenewswire.com - March 6 at 6:53 PM |
| Q4 2016 RigNet Inc Earnings Release - After Market Close
biz.yahoo.com - March 6 at 10:26 AM |
| RigNet Announces Fourth Quarter and Full Year 2016 Earnings Release Date and Conference Call Information
feeds.benzinga.com - February 20 at 6:00 PM |
| Houston energy communications co. leases space for new headquarters
www.bizjournals.com - February 17 at 7:51 PM |
RigNet (RNET) Chart for Thursday, June, 29, 2017
