EchoStar Corporation (NASDAQ:SATS) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Citigroup Inc. cut their price objective on EchoStar Corporation from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, March 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.33.

EchoStar Corporation (SATS) traded up 1.35% during midday trading on Friday, reaching $60.04. 105,226 shares of the company were exchanged. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 33.56 and a beta of 0.70. EchoStar Corporation has a 52-week low of $36.43 and a 52-week high of $62.50. The company has a 50 day moving average of $59.91 and a 200-day moving average of $55.88.

EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.17. The firm had revenue of $443.20 million during the quarter, compared to analysts’ expectations of $447.17 million. EchoStar Corporation had a return on equity of 4.11% and a net margin of 6.30%. EchoStar Corporation’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. On average, equities research analysts anticipate that EchoStar Corporation will post $0.91 earnings per share for the current fiscal year.

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In other EchoStar Corporation news, EVP Dean Manson sold 1,469 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $58.07, for a total value of $85,304.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pradman P. Kaul sold 14,999 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $58.25, for a total value of $873,691.75. Following the completion of the transaction, the insider now owns 4,999 shares of the company’s stock, valued at approximately $291,191.75. The disclosure for this sale can be found here. Insiders sold 59,862 shares of company stock valued at $3,598,258 in the last quarter. 73.54% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in EchoStar Corporation by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock valued at $858,000 after buying an additional 89 shares during the last quarter. Credit Suisse AG boosted its position in EchoStar Corporation by 0.3% in the first quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock valued at $2,334,000 after buying an additional 130 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in EchoStar Corporation by 1.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,620 shares of the communications equipment provider’s stock valued at $597,000 after buying an additional 136 shares during the last quarter. Amalgamated Bank boosted its position in EchoStar Corporation by 3.2% in the first quarter. Amalgamated Bank now owns 6,527 shares of the communications equipment provider’s stock valued at $372,000 after buying an additional 200 shares during the last quarter. Finally, US Bancorp DE boosted its position in EchoStar Corporation by 4.6% in the first quarter. US Bancorp DE now owns 12,313 shares of the communications equipment provider’s stock valued at $701,000 after buying an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 44.84% of the company’s stock.

EchoStar Corporation Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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