EchoStar Corp. Hits New 12-Month High at $52.00 (SATS)
EchoStar Corp. (NASDAQ:SATS)’s share price hit a new 52-week high during trading on Monday , AnalystRatingsNetwork.com reports. The stock traded as high as $52.00 and last traded at $51.91, with a volume of 26,318 shares trading hands. The stock had previously closed at $51.51.
A number of analysts have recently weighed in on SATS shares. Analysts at Zacks upgraded shares of EchoStar Corp. from a “neutral” rating to an “outperform” rating in a research note on Friday, May 16th. They now have a $52.70 price target on the stock. Analysts at TheStreet downgraded shares of EchoStar Corp. from a “buy” rating to a “hold” rating in a research note on Monday, March 17th.
The stock’s 50-day moving average is $48.67 and its 200-day moving average is $48.57. The company has a market cap of $4.687 billion and a price-to-earnings ratio of 396.23.
EchoStar Corp. (NASDAQ:SATS) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.11. The company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $838.44 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict that EchoStar Corp. will post $0.65 earnings per share for the current fiscal year.
In other EchoStar Corp. news, CEO Michael T. Dugan unloaded 60,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $51.05, for a total transaction of $3,063,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
EchoStar Corporation is a holding company. EchoStar Technologies segment designs, develops and distributes digital set-top boxes and related products and technology, including its Slingbox placeshifting technology, primarily for satellite television service providers, telecommunication and cable companies and, with respect to Slingboxes, directly to consumers via retail outlets.
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