DISH Network Corporation (DISH) Expected to Announce Quarterly Sales of $3.60 Billion
Brokerages expect DISH Network Corporation (NASDAQ:DISH) to announce sales of $3.60 billion for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for DISH Network Corporation’s earnings, with the lowest sales estimate coming in at $3.54 billion and the highest estimate coming in at $3.65 billion. DISH Network Corporation reported sales of $3.75 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4%. The company is expected to issue its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that DISH Network Corporation will report full-year sales of $3.60 billion for the current financial year, with estimates ranging from $14.30 billion to $14.57 billion. For the next financial year, analysts anticipate that the company will post sales of $13.81 billion per share, with estimates ranging from $13.22 billion to $14.14 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for DISH Network Corporation.
DISH Network Corporation (NASDAQ:DISH) last posted 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 business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share.
Several brokerages have issued reports on DISH. Deutsche Bank AG reiterated a “buy” rating and issued a $99.00 price target on shares of DISH Network Corporation in a research note on Thursday, October 5th. Wells Fargo & Company reiterated an “outperform” rating on shares of DISH Network Corporation in a research note on Wednesday, June 28th. BidaskClub lowered shares of DISH Network Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $80.00 price target on shares of DISH Network Corporation in a research note on Monday, September 25th. Finally, Zacks Investment Research upgraded shares of DISH Network Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $67.38.
DISH Network Corporation (NASDAQ DISH) traded down 0.08% during trading on Tuesday, reaching $48.94. 869,672 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $52.69 and a 200-day moving average price of $59.87. The firm has a market cap of $22.81 billion, a PE ratio of 22.76 and a beta of 0.99. DISH Network Corporation has a 12 month low of $47.48 and a 12 month high of $66.50.
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In related news, EVP Jeffrey L. Mcschooler sold 785 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $56.61, for a total value of $44,438.85. Following the transaction, the executive vice president now owns 165 shares in the company, valued at approximately $9,340.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction dated 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. In the last quarter, insiders sold 26,110 shares of company stock worth $1,555,296. 49.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Tennessee Treasury Department grew its stake in DISH Network Corporation by 10.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 168,943 shares of the company’s stock valued at $10,603,000 after buying an additional 15,978 shares during the last quarter. Swiss National Bank grew its stake in DISH Network Corporation by 3.3% in the 2nd quarter. Swiss National Bank now owns 829,109 shares of the company’s stock valued at $52,035,000 after buying an additional 26,200 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in DISH Network Corporation in the 2nd quarter valued at about $304,000. Artemis Investment Management LLP grew its stake in DISH Network Corporation by 29.8% in the 2nd quarter. Artemis Investment Management LLP now owns 129,944 shares of the company’s stock valued at $8,156,000 after buying an additional 29,821 shares during the last quarter. Finally, CenturyLink Investment Management Co acquired a new position in DISH Network Corporation in the 2nd quarter valued at about $883,000. Institutional investors and hedge funds own 48.94% of the company’s stock.
DISH Network Corporation Company Profile
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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