Echostar Co. (SATS) Expected to Post Quarterly Sales of $502.10 Million

Brokerages forecast that Echostar Co. (NASDAQ:SATS) will report sales of $502.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Echostar’s earnings. The lowest sales estimate is $500.90 million and the highest is $503.30 million. Echostar reported sales of $740.39 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 32.2%. The firm is expected to issue its next quarterly earnings results on Friday, February 23rd.

According to Zacks, analysts expect that Echostar will report full year sales of $502.10 million for the current year, with estimates ranging from $1.88 billion to $1.90 billion. For the next financial year, analysts expect that the business will report sales of $2.13 billion per share, with estimates ranging from $2.08 billion to $2.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Echostar.

Echostar (NASDAQ:SATS) last posted its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.37. Echostar had a net margin of 5.55% and a return on equity of 2.85%. The firm had revenue of $481.20 million during the quarter, compared to analyst estimates of $477.33 million. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was up 9.7% on a year-over-year basis.

A number of research firms recently commented on SATS. BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Jefferies Group set a $70.00 price objective on shares of Echostar and gave the stock a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a research note on Friday, November 10th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $68.33.

A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its stake in Echostar by 14.6% in the 3rd quarter. California Public Employees Retirement System now owns 107,083 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 13,683 shares during the period. Cubist Systematic Strategies LLC lifted its position in Echostar by 51.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,189 shares of the communications equipment provider’s stock worth $297,000 after buying an additional 1,757 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Echostar in the 3rd quarter worth approximately $870,000. Vident Investment Advisory LLC lifted its position in Echostar by 3.3% in the 3rd quarter. Vident Investment Advisory LLC now owns 30,658 shares of the communications equipment provider’s stock worth $1,755,000 after buying an additional 979 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Echostar in the 3rd quarter worth approximately $204,000. 44.48% of the stock is owned by hedge funds and other institutional investors.

Echostar (NASDAQ SATS) opened at $60.65 on Friday. Echostar has a 52 week low of $49.82 and a 52 week high of $62.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. The company has a market cap of $5,707.18, a P/E ratio of 50.96, a P/E/G ratio of 3.13 and a beta of 0.79.

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Echostar 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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