DISH Network Corp (NASDAQ:DISH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “DISH Network is looking for wireless opportunities. The company has created an extensive portfolio of wireless spectrum, valued at around $50 billion. Launch of a mobile app, DISH Music and Air TV Player bodes well. We are impressed with DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. On the flip side, the company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 25.1% as against the industry's loss of 7.1%.”

Other research analysts have also issued research reports about the stock. Wells Fargo & Company reissued an “outperform” rating and issued a $88.50 price target on shares of DISH Network Corp in a research report on Thursday, August 31st. Citigroup Inc. lowered shares of DISH Network Corp from a “buy” rating to a “sell” rating and dropped their price target for the stock from $94.00 to $52.00 in a research report on Wednesday, July 26th. BidaskClub lowered shares of DISH Network Corp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Morgan Stanley reissued a “buy” rating and issued a $75.00 price target on shares of DISH Network Corp in a research report on Tuesday, October 17th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $99.00 price target on shares of DISH Network Corp in a research report on Thursday, October 5th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.38.

Shares of DISH Network Corp (NASDAQ DISH) traded down 2.61% during mid-day trading on Friday, reaching $46.67. The company had a trading volume of 2,293,018 shares. DISH Network Corp has a 52-week low of $46.41 and a 52-week high of $66.50. The company’s 50-day moving average price is $52.36 and its 200-day moving average price is $59.70. The company has a market capitalization of $21.75 billion, a PE ratio of 21.71 and a beta of 0.99.

DISH Network Corp (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.67). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corp had a net margin of 1.61% and a return on equity of 3.10%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts forecast that DISH Network Corp will post $2.18 earnings per share for the current fiscal year.

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In other news, EVP Jeffrey L. Mcschooler sold 785 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.61, for a total transaction of $44,438.85. Following the sale, the executive vice president now directly owns 165 shares of the company’s stock, valued at $9,340.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roger Lynch sold 25,000 shares of the stock in a transaction that occurred on 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. Insiders have sold 26,110 shares of company stock worth $1,555,296 over the last three months. 49.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. grew its stake in shares of DISH Network Corp by 0.4% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 12,835 shares of the company’s stock valued at $806,000 after purchasing an additional 48 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of DISH Network Corp by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,900 shares of the company’s stock valued at $1,061,000 after purchasing an additional 68 shares during the last quarter. Private Capital Advisors Inc. grew its stake in shares of DISH Network Corp by 0.7% during the second quarter. Private Capital Advisors Inc. now owns 10,772 shares of the company’s stock valued at $676,000 after purchasing an additional 72 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in shares of DISH Network Corp by 0.9% during the second quarter. TRUE Private Wealth Advisors now owns 7,899 shares of the company’s stock valued at $495,000 after purchasing an additional 74 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC grew its stake in shares of DISH Network Corp by 4.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock valued at $157,000 after purchasing an additional 100 shares during the last quarter. 48.94% of the stock is currently owned by institutional investors and hedge funds.

DISH Network Corp 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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Analyst Recommendations for DISH Network Corp (NASDAQ:DISH)

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