EchoStar Corporation (SATS) Upgraded by Zacks Investment Research to “Strong-Buy”
EchoStar Corporation (NASDAQ:SATS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The brokerage presently has a $65.00 price target on the communications equipment provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.72% from the stock’s current price.
According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
Several other equities research analysts have also issued reports on SATS. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Jefferies Group LLC started coverage on EchoStar Corporation in a research note on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $63.75.
EchoStar Corporation (NASDAQ SATS) traded up $0.92 during trading on Friday, reaching $55.69. The company had a trading volume of 116,600 shares, compared to its average volume of 131,920. EchoStar Corporation has a twelve month low of $48.19 and a twelve month high of $62.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 8.88 and a current ratio of 8.61. The stock has a market capitalization of $5,326.64, a PE ratio of 47.60, a price-to-earnings-growth ratio of 3.22 and a beta of 0.76.
EchoStar Corporation (NASDAQ:SATS) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.37. EchoStar Corporation had a return on equity of 2.85% and a net margin of 5.55%. The business had revenue of $481.20 million during the quarter, compared to analysts’ expectations of $477.33 million. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. equities research analysts predict that EchoStar Corporation will post 0.94 EPS for the current year.
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In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $117,440. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The disclosure for this sale can be found here. Insiders own 73.54% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its stake in shares of EchoStar Corporation by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock valued at $227,000 after acquiring an additional 39 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of EchoStar Corporation by 0.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,114 shares of the communications equipment provider’s stock valued at $614,000 after acquiring an additional 42 shares during the last quarter. US Bancorp DE lifted its stake in shares of EchoStar Corporation by 0.7% in the 2nd quarter. US Bancorp DE now owns 12,395 shares of the communications equipment provider’s stock valued at $753,000 after acquiring an additional 82 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of EchoStar Corporation by 0.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock valued at $858,000 after acquiring an additional 89 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of EchoStar Corporation by 0.3% in the 1st quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock valued at $2,334,000 after acquiring an additional 130 shares during the last quarter. 44.94% 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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