Zacks: Analysts Set $54.00 Target Price for EchoStar Corp. (SATS)
Shares of EchoStar Corp. (NASDAQ:SATS) have been given a consensus broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.
Brokers have set a twelve-month consensus price objective of $54.00 for the company and are forecasting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given EchoStar Corp. an industry rank of 175 out of 265 based on the ratings given to its competitors.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut EchoStar Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Macquarie reaffirmed an “outperform” rating and issued a $55.00 price target on shares of EchoStar Corp. in a report on Friday, July 8th. TheStreet cut EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Citigroup Inc. increased their target price on EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 17th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/zacks-analysts-set-54-00-target-price-for-echostar-corp-sats.html
EchoStar Corp. (NASDAQ:SATS) traded up 0.50% on Tuesday, hitting $46.12. The stock had a trading volume of 47,568 shares. The firm’s 50 day moving average price is $41.76 and its 200-day moving average price is $40.20. The stock has a market cap of $4.33 billion, a PE ratio of 21.25 and a beta of 0.99. EchoStar Corp. has a 12 month low of $30.86 and a 12 month high of $47.54.
EchoStar Corp. (NASDAQ:SATS) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.17. The company earned $757.60 million during the quarter, compared to analysts’ expectations of $766.99 million. EchoStar Corp. had a return on equity of 5.17% and a net margin of 6.31%. EchoStar Corp.’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, analysts forecast that EchoStar Corp. will post $1.78 EPS for the current year.
Several institutional investors have recently made changes to their positions in SATS. Babson Capital Management LLC purchased a new position in shares of EchoStar Corp. during the first quarter worth approximately $711,000. A.R.T. Advisors LLC bought a new stake in EchoStar Corp. during the first quarter worth about $1,443,000. Harvest Capital Strategies LLC raised its stake in EchoStar Corp. by 12.4% in the first quarter. Harvest Capital Strategies LLC now owns 157,300 shares of the company’s stock worth $6,967,000 after buying an additional 17,300 shares during the period. Renaissance Technologies LLC raised its stake in EchoStar Corp. by 4.9% in the first quarter. Renaissance Technologies LLC now owns 2,081,180 shares of the company’s stock worth $92,175,000 after buying an additional 96,900 shares during the period. Finally, Geode Capital Management LLC raised its stake in EchoStar Corp. by 6.4% in the first quarter. Geode Capital Management LLC now owns 306,720 shares of the company’s stock worth $13,584,000 after buying an additional 18,413 shares during the period. 44.02% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EchoStar Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EchoStar Corp. and related companies with MarketBeat.com's FREE daily email newsletter.