EchoStar Corporation (SATS) Coverage Initiated by Analysts at Jefferies Group LLC
Analysts at Jefferies Group LLC initiated coverage on shares of EchoStar Corporation (NASDAQ:SATS) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “hold” rating and a $65.00 price target on the communications equipment provider’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 15.80% from the stock’s current price.
A number of other research firms also recently issued reports on SATS. Zacks Investment Research raised EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. BidaskClub cut EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, TheStreet cut EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.00.
Shares of EchoStar Corporation (SATS) traded down 1.01% during trading on Friday, reaching $56.13. The company’s stock had a trading volume of 144,505 shares. The company has a 50-day moving average price of $58.99 and a 200-day moving average price of $58.13. EchoStar Corporation has a one year low of $38.18 and a one year high of $62.50. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 44.58 and a beta of 0.72.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.05. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The firm had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. During the same period in the previous year, the company posted $0.47 EPS. EchoStar Corporation’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that EchoStar Corporation will post $0.56 earnings per share for the current fiscal year.
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In related news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael T. Dugan sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $62.24, for a total value of $311,200.00. Following the sale, the chief executive officer now owns 30,146 shares of the company’s stock, valued at $1,876,287.04. The disclosure for this sale can be found here. Insiders have sold a total of 17,128 shares of company stock valued at $1,022,256 over the last 90 days. 73.54% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Partners Fund LP purchased a new stake in shares of EchoStar Corporation during the 1st quarter worth $142,000. The Manufacturers Life Insurance Company lifted its stake in shares of EchoStar Corporation by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after purchasing an additional 207 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of EchoStar Corporation by 390.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after purchasing an additional 2,732 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of EchoStar Corporation during the 1st quarter worth $210,000. Finally, South State Corp purchased a new stake in shares of EchoStar Corporation during the 2nd quarter worth $234,000. Hedge funds and other institutional investors own 45.04% 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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