EchoStar Corp. (SATS) Lowered to “Sell” at Zacks Investment Research
EchoStar Corp. (NASDAQ:SATS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
SATS has been the topic of a number of other reports. Macquarie reaffirmed an “outperform” rating and set a $55.00 price objective on shares of EchoStar Corp. in a report on Friday, July 8th. TheStreet downgraded shares of EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Citigroup Inc. lifted their price objective on shares of EchoStar Corp. from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th.
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EchoStar Corp. (NASDAQ:SATS) opened at 46.62 on Wednesday. The company has a 50 day moving average of $40.95 and a 200 day moving average of $40.16. EchoStar Corp. has a 1-year low of $30.86 and a 1-year high of $47.54. The firm has a market capitalization of $4.38 billion, a P/E ratio of 21.48 and a beta of 0.99.
EchoStar Corp. (NASDAQ:SATS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.17. The firm had revenue of $757.60 million for the quarter, compared to the consensus estimate of $766.99 million. EchoStar Corp. had a net margin of 6.31% and a return on equity of 5.17%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that EchoStar Corp. will post $1.78 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in SATS. Quantbot Technologies LP boosted its stake in EchoStar Corp. by 50.7% in the second quarter. Quantbot Technologies LP now owns 2,534 shares of the company’s stock worth $100,000 after buying an additional 852 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in EchoStar Corp. by 12.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,903 shares of the company’s stock worth $115,000 after buying an additional 330 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its stake in EchoStar Corp. by 13.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock worth $169,000 after buying an additional 488 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in EchoStar Corp. during the second quarter worth approximately $169,000. Finally, Amalgamated Bank boosted its stake in EchoStar Corp. by 7.1% in the second quarter. Amalgamated Bank now owns 5,493 shares of the company’s stock worth $204,000 after buying an additional 364 shares during the last quarter. Institutional investors own 44.02% of the company’s stock.
About EchoStar Corp.
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
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