EchoStar Corporation (SATS) Expected to Announce Quarterly Sales of $476.70 Million
Analysts forecast that EchoStar Corporation (NASDAQ:SATS) will announce $476.70 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for EchoStar Corporation’s earnings, with estimates ranging from $475.80 million to $477.60 million. EchoStar Corporation reported sales of $742.35 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 35.8%. The company is scheduled to report its next earnings report on Tuesday, November 14th.
On average, analysts expect that EchoStar Corporation will report full year sales of $476.70 million for the current financial year, with estimates ranging from $1.88 billion to $1.92 billion. For the next year, analysts expect that the business will post sales of $2.11 billion per share, with estimates ranging from $2.05 billion to $2.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for EchoStar Corporation.
EchoStar Corporation (NASDAQ:SATS) last posted its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company had revenue of $465.08 million during the quarter, compared to analyst estimates of $455.25 million. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.
SATS has been the subject of a number of recent analyst reports. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a report on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.33.
In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of the stock in a transaction 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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Rayner sold 5,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. 73.54% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Partners Fund LP bought a new position in EchoStar Corporation during the 1st quarter valued at $142,000. The Manufacturers Life Insurance Company boosted its stake in 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 valued at $177,000 after acquiring an additional 207 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of EchoStar Corporation by 390.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after buying an additional 2,732 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of EchoStar Corporation in the 1st quarter worth about $210,000. Finally, South State Corp bought a new position in shares of EchoStar Corporation in the 2nd quarter worth about $234,000. Hedge funds and other institutional investors own 45.04% of the company’s stock.
EchoStar Corporation (SATS) traded down 1.12% during trading on Friday, hitting $55.81. 25,284 shares of the company’s stock traded hands. The stock has a market cap of $5.34 billion, a P/E ratio of 44.33 and a beta of 0.69. EchoStar Corporation has a 12-month low of $44.01 and a 12-month high of $62.50. The firm’s 50-day moving average price is $57.57 and its 200 day moving average price is $58.51.
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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