EchoStar Corporation (SATS) Given $70.50 Average Target Price by Analysts
EchoStar Corporation (NASDAQ:SATS) has been given an average broker rating score of 1.50 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company.
Brokerages have set a 1-year consensus price objective of $70.50 for the company and are forecasting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned EchoStar Corporation an industry rank of 52 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently commented on SATS shares. BidaskClub downgraded EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded EchoStar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 13th. Finally, TheStreet downgraded EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday.
In related news, CEO Michael T. Dugan sold 5,000 shares of EchoStar Corporation stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $62.24, for a total transaction of $311,200.00. Following the transaction, the chief executive officer now owns 30,146 shares of the company’s stock, valued at $1,876,287.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael T. Dugan sold 10,000 shares of EchoStar Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $60.58, for a total value of $605,800.00. Following the transaction, the chief executive officer now directly owns 52,092 shares in the company, valued at approximately $3,155,733.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,946 shares of company stock worth $2,256,829. 73.54% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SATS. FNY Partners Fund LP bought a new position in shares of EchoStar Corporation during the first quarter valued at about $142,000. James Investment Research Inc. bought a new position in shares of EchoStar Corporation during the first quarter valued at about $145,000. The Manufacturers Life Insurance Company boosted its position in shares of EchoStar Corporation by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 207 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of EchoStar Corporation by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock valued at $208,000 after buying an additional 2,732 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of EchoStar Corporation during the first quarter valued at about $210,000. 44.78% of the stock is currently owned by institutional investors.
Shares of EchoStar Corporation (NASDAQ:SATS) opened at 59.02 on Friday. EchoStar Corporation has a 12-month low of $38.08 and a 12-month high of $62.50. The company’s 50 day moving average is $59.53 and its 200 day moving average is $57.82. The firm has a market capitalization of $5.65 billion, a PE ratio of 46.88 and a beta of 0.70.
EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The firm had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, analysts forecast that EchoStar Corporation will post $0.56 earnings per share for the current year.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for EchoStar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EchoStar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.