Dish Network Corp. (DISH) Price Target Raised to $66.00
Dish Network Corp. (NASDAQ:DISH) had its price objective increased by stock analysts at Macquarie to $66.00 in a report released on Friday. Macquarie’s price target indicates a potential upside of 19.03% from the company’s previous close.
A number of other equities research analysts have also recently commented on DISH. Telsey Advisory Group decreased their price objective on Dish Network Corp. from $69.00 to $62.00 and set a “market perform” rating for the company in a report on Monday, July 25th. Jefferies Group reissued a “buy” rating and issued a $80.00 price objective on shares of Dish Network Corp. in a report on Friday, July 22nd. Pacific Crest reissued a “hold” rating on shares of Dish Network Corp. in a report on Friday, July 22nd. Zacks Investment Research raised Dish Network Corp. from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, June 21st. Finally, Wunderlich lowered Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 target price for the company. in a report on Friday, July 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Dish Network Corp. has a consensus rating of “Hold” and a consensus price target of $66.46.
Shares of Dish Network Corp. (NASDAQ:DISH) traded down 0.25% on Friday, hitting $55.45. 1,261,363 shares of the stock traded hands. Dish Network Corp. has a 52 week low of $38.85 and a 52 week high of $65.49. The firm has a market capitalization of $25.78 billion, a PE ratio of 29.62 and a beta of 0.85. The firm’s 50 day moving average is $52.04 and its 200 day moving average is $50.33.
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Dish Network Corp. (NASDAQ:DISH) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.71 by $0.17. The company earned $3.84 billion during the quarter, compared to the consensus estimate of $3.86 billion. Dish Network Corp. had a net margin of 5.75% and a return on equity of 42.01%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. On average, analysts expect that Dish Network Corp. will post $3.08 EPS for the current fiscal year.
In related news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $53.54, for a total value of $1,606,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 49.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Brinker Capital Inc. increased its position in shares of Dish Network Corp. by 0.6% in the second quarter. Brinker Capital Inc. now owns 11,507 shares of the company’s stock worth $603,000 after buying an additional 69 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Dish Network Corp. by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 28,081 shares of the company’s stock worth $1,471,000 after buying an additional 77 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Dish Network Corp. by 0.5% in the second quarter. CIBC Asset Management Inc now owns 24,095 shares of the company’s stock worth $1,263,000 after buying an additional 122 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Dish Network Corp. by 2.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 5,703 shares of the company’s stock worth $269,000 after buying an additional 134 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Dish Network Corp. by 0.3% in the second quarter. Mackenzie Financial Corp now owns 54,833 shares of the company’s stock worth $2,873,000 after buying an additional 158 shares during the last quarter. 45.34% of the stock is currently owned by hedge funds and other institutional investors.
Dish Network Corp. Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: DISH and Wireless. It offers Pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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