EchoStar Corporation (SATS) Set to Announce Quarterly Earnings on Monday
EchoStar Corporation (NASDAQ:SATS) is scheduled to issue its quarterly earnings data before the market opens on Monday, November 6th. Analysts expect the company to announce earnings of $0.11 per share for the quarter.
EchoStar Corporation (NASDAQ:SATS) last issued 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 return on equity of 2.87% and a net margin of 5.03%. The firm had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. EchoStar Corporation’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect EchoStar Corporation to post $0.65 EPS for the current fiscal year and $0.89 EPS for the next fiscal year.
Shares of EchoStar Corporation (NASDAQ:SATS) opened at 56.04 on Monday. The stock has a market capitalization of $5.36 billion, a PE ratio of 44.51 and a beta of 0.70. The firm has a 50 day moving average price of $56.28 and a 200 day moving average price of $58.45. EchoStar Corporation has a one year low of $44.01 and a one year high of $62.50.
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Several research firms have recently commented on SATS. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub lowered 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 EchoStar Corporation in a research report on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and two have issued 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, CFO David Rayner sold 5,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anders N. Johnson sold 7,128 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total value of $418,556.16. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $117,440. The disclosure for this sale can be found here. Company insiders own 73.54% of the company’s stock.
A hedge fund recently raised its stake in EchoStar Corporation stock. The Manufacturers Life Insurance Company lifted its stake in EchoStar Corporation (NASDAQ:SATS) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,909 shares of the communications equipment provider’s stock after purchasing an additional 207 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in EchoStar Corporation were worth $177,000 at the end of the most recent quarter. 44.93% of the stock is owned by institutional investors.
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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