Shares of EchoStar Corporation (NASDAQ:SATS) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.33.

SATS has been the subject of a number of recent analyst reports. Zacks Investment Research raised EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. Jefferies Group LLC initiated coverage on EchoStar Corporation in a research report on Friday. They set a “hold” rating and a $65.00 target price for the company. BidaskClub cut EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet cut EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st.

In related news, CFO David Rayner sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total value of $418,556.16. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $117,440. The disclosure for this sale can be found here. Insiders sold 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 corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in EchoStar Corporation by 11,213.9% during the first quarter. BlackRock Inc. now owns 1,929,583 shares of the communications equipment provider’s stock worth $109,889,000 after acquiring an additional 1,912,528 shares in the last quarter. Vanguard Group Inc. raised its stake in EchoStar Corporation by 11.1% during the second quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock worth $182,177,000 after acquiring an additional 299,543 shares in the last quarter. First Trust Advisors LP raised its stake in EchoStar Corporation by 376.4% during the second quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock worth $14,631,000 after acquiring an additional 190,448 shares in the last quarter. Renaissance Technologies LLC raised its stake in EchoStar Corporation by 6.8% during the first quarter. Renaissance Technologies LLC now owns 2,748,080 shares of the communications equipment provider’s stock worth $156,503,000 after acquiring an additional 175,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in EchoStar Corporation by 14.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,276,144 shares of the communications equipment provider’s stock worth $72,670,000 after acquiring an additional 157,545 shares in the last quarter. Institutional investors and hedge funds own 45.04% of the company’s stock.

Shares of EchoStar Corporation (SATS) opened at 56.70 on Friday. EchoStar Corporation has a 1-year low of $38.18 and a 1-year high of $62.50. The stock’s 50 day moving average is $59.13 and its 200-day moving average is $58.14. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 45.04 and a beta of 0.72.

EchoStar Corporation (NASDAQ:SATS) last announced its 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. The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. On average, analysts anticipate that EchoStar Corporation will post $0.56 EPS for the current year.

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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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