EchoStar Corporation (SATS) Expected to Post Earnings of -$0.01 Per Share
Analysts forecast that EchoStar Corporation (NASDAQ:SATS) will report earnings of ($0.01) per share for the current quarter, according to Zacks. Two analysts have issued estimates for EchoStar Corporation’s earnings, with estimates ranging from ($0.02) to $0.00. EchoStar Corporation reported earnings of $0.39 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 102.6%. The company is expected to announce its next earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that EchoStar Corporation will report full year earnings of $0.65 per share for the current financial year, with EPS estimates ranging from $0.44 to $0.96. For the next fiscal year, analysts expect that the business will post earnings of $0.89 per share, with EPS estimates ranging from $0.10 to $1.29. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for EchoStar Corporation.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings results 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). EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The company had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis.
SATS has been the topic of several recent analyst reports. Jefferies Group LLC initiated coverage on EchoStar Corporation in a research note on Friday, September 8th. They issued a “hold” rating and a $65.00 price target on the stock. TheStreet cut EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Finally, BidaskClub downgraded EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.00.
In related news, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $58.50, for a total value of $292,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction that occurred on Wednesday, August 30th. The shares were 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 owns 2,000 shares of the company’s stock, valued at approximately $117,440. The disclosure for this sale can be found here. Corporate insiders own 73.54% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. MARSHALL WACE ASIA Ltd purchased a new position in shares of EchoStar Corporation during the first quarter worth $1,139,000. Bank of New York Mellon Corp grew its stake in shares of EchoStar Corporation by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 250,359 shares of the communications equipment provider’s stock valued at $14,258,000 after buying an additional 4,936 shares in the last quarter. First Trust Advisors LP grew its stake in shares of EchoStar Corporation by 376.4% in the second quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock valued at $14,631,000 after buying an additional 190,448 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of EchoStar Corporation by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 33,262 shares of the communications equipment provider’s stock valued at $1,894,000 after buying an additional 1,165 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of EchoStar Corporation in the first quarter valued at $1,287,000. Institutional investors own 45.04% of the company’s stock.
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Shares of EchoStar Corporation (NASDAQ SATS) opened at 57.28 on Wednesday. The firm has a 50-day moving average of $57.64 and a 200 day moving average of $58.54. EchoStar Corporation has a 52-week low of $42.48 and a 52-week high of $62.50. The stock has a market capitalization of $5.48 billion, a PE ratio of 45.50 and a beta of 0.70.
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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