EchoStar Corporation (SATS) Expected to Post Quarterly Sales of $476.70 Million
Equities research analysts expect that EchoStar Corporation (NASDAQ:SATS) will post $476.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for EchoStar Corporation’s earnings, with the lowest sales estimate coming in at $475.80 million and the highest estimate coming in at $477.60 million. EchoStar Corporation reported sales of $742.35 million in the same quarter last year, which indicates a negative year-over-year growth rate of 35.8%. The business is scheduled to announce 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 financial year, analysts anticipate that the company will post sales of $2.11 billion per share, with estimates ranging from $2.05 billion to $2.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover EchoStar Corporation.
EchoStar Corporation (NASDAQ:SATS) last announced 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 business 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 for the quarter was up 5.1% compared to the same quarter last year.
A number of brokerages have recently commented on SATS. TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC began coverage on shares of EchoStar Corporation in a research report on Friday, September 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. EchoStar Corporation presently has a consensus rating of “Buy” and an average target price of $63.33.
In other news, insider Anders N. Johnson sold 7,128 shares of the business’s stock in a transaction 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 sale, the insider now owns 2,000 shares of the company’s stock, valued at $117,440. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David Rayner sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was 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. Insiders own 73.54% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. FNY Partners Fund LP bought a new stake in shares of EchoStar Corporation in the first quarter worth $142,000. The Manufacturers Life Insurance Company lifted its position in shares of EchoStar Corporation by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after purchasing an additional 207 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of EchoStar Corporation by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after purchasing an additional 2,732 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of EchoStar Corporation in the first quarter worth $210,000. Finally, South State Corp bought a new stake in shares of EchoStar Corporation in the second quarter worth $234,000. 45.04% of the stock is currently owned by institutional investors and hedge funds.
EchoStar Corporation (NASDAQ:SATS) opened at 54.71 on Tuesday. The stock’s 50 day moving average is $56.55 and its 200 day moving average is $58.53. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 43.46 and a beta of 0.69. EchoStar Corporation has a 52 week low of $44.01 and a 52 week high of $62.50.
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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