Brokerages Expect EchoStar Corporation (SATS) to Announce -$0.01 Earnings Per Share
Wall Street brokerages predict that EchoStar Corporation (NASDAQ:SATS) will announce earnings of ($0.01) per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for EchoStar Corporation’s earnings, with estimates ranging from ($0.02) to $0.00. EchoStar Corporation posted earnings of $0.39 per share in the same quarter last year, which would suggest a negative year over year growth rate of 102.6%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 14th.
On average, 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 financial year, analysts anticipate 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 a mean average based on a survey of research analysts that cover EchoStar Corporation.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $455.25 million. During the same quarter last year, the company earned $0.47 EPS. The business’s revenue was up 5.1% compared to the same quarter last year.
Several research firms recently weighed in on SATS. TheStreet cut EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub cut EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC began coverage on EchoStar Corporation in a research note on Friday, September 8th. They set a “hold” rating and a $65.00 target price for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.33.
In other EchoStar Corporation news, CFO David Rayner sold 5,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anders N. Johnson sold 7,128 shares of the business’s stock in a transaction that occurred 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 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. 73.54% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. MARSHALL WACE ASIA Ltd purchased a new stake in EchoStar Corporation in the first quarter valued at approximately $1,139,000. First Trust Advisors LP lifted its stake in 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 during the last quarter. Ameriprise Financial Inc. lifted its stake in 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 during the last quarter. Ramsey Quantitative Systems purchased a new stake in EchoStar Corporation in the second quarter valued at approximately $326,000. Finally, BlackRock Inc. lifted its stake in EchoStar Corporation by 2.7% in the second quarter. BlackRock Inc. now owns 1,981,989 shares of the communications equipment provider’s stock valued at $120,307,000 after buying an additional 52,406 shares during the last quarter. Institutional investors own 45.04% of the company’s stock.
EchoStar Corporation (NASDAQ:SATS) traded up 1.05% during trading on Friday, hitting $54.89. 81,203 shares of the stock traded hands. EchoStar Corporation has a 12 month low of $44.01 and a 12 month high of $62.50. The company has a market cap of $5.25 billion, a P/E ratio of 43.60 and a beta of 0.69. The company’s 50 day moving average price is $56.69 and its 200 day moving average price is $58.51.
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About EchoStar Corporation
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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