DISH Network Corporation (DISH) Upgraded by Citigroup Inc. to “Neutral”
DISH Network Corporation (NASDAQ:DISH) was upgraded by Citigroup Inc. from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $54.00 target price on the stock. Citigroup Inc.’s price objective indicates a potential upside of 1.98% from the stock’s current price.
Several other equities analysts have also weighed in on DISH. Wells Fargo & Company restated an “outperform” rating and set a $88.50 price target on shares of DISH Network Corporation in a research report on Thursday, August 31st. BidaskClub lowered shares of DISH Network Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Wunderlich restated a “sell” rating and set a $54.00 price target on shares of DISH Network Corporation in a research report on Monday, June 12th. Macquarie restated a “hold” rating and set a $68.00 price target on shares of DISH Network Corporation in a research report on Thursday, August 3rd. Finally, Guggenheim restated a “neutral” rating and set a $62.00 price target (down previously from $68.00) on shares of DISH Network Corporation in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.97.
Shares of DISH Network Corporation (NASDAQ:DISH) traded down 0.23% during mid-day trading on Friday, hitting $52.95. 3,134,613 shares of the company traded hands. The firm has a 50-day moving average of $58.03 and a 200-day moving average of $61.89. DISH Network Corporation has a one year low of $51.76 and a one year high of $66.50. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 24.63 and a beta of 0.98.
DISH Network Corporation (NASDAQ:DISH) last announced its earnings results on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.67). The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.71 billion. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, equities analysts predict that DISH Network Corporation will post $2.23 earnings per share for the current year.
In other news, EVP Jeffrey L. Mcschooler sold 785 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.61, for a total value of $44,438.85. Following the completion of the transaction, the executive vice president now directly owns 165 shares in the company, valued at $9,340.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Roger Lynch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $59.73, for a total transaction of $1,493,250.00. The disclosure for this sale can be found here. Insiders sold 25,885 shares of company stock valued at $1,544,018 over the last 90 days. 49.30% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in DISH. Sun Life Financial INC boosted its position in shares of DISH Network Corporation by 20,725.0% in the second quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock valued at $105,000 after acquiring an additional 1,658 shares during the period. Elkfork Partners LLC bought a new position in shares of DISH Network Corporation in the first quarter valued at approximately $110,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of DISH Network Corporation by 3,872.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,907 shares of the company’s stock valued at $121,000 after acquiring an additional 1,859 shares during the period. Meadow Creek Investment Management LLC bought a new position in shares of DISH Network Corporation in the first quarter valued at approximately $141,000. Finally, Paradigm Asset Management Co. LLC boosted its position in shares of DISH Network Corporation by 4.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock valued at $157,000 after acquiring an additional 100 shares during the period. Institutional investors own 48.93% of the company’s stock.
About DISH Network Corporation
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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