Brokerages Expect Echostar Co. (SATS) Will Announce Quarterly Sales of $502.10 Million

Equities analysts predict that Echostar Co. (NASDAQ:SATS) will report $502.10 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Echostar’s earnings, with estimates ranging from $500.90 million to $503.30 million. Echostar reported sales of $740.39 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 32.2%. The firm is expected to announce 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 fiscal year, with estimates ranging from $1.88 billion to $1.90 billion. For the next year, analysts anticipate that the company will post sales of $2.13 billion per share, with estimates ranging from $2.08 billion to $2.20 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Echostar.

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

Several equities analysts recently issued reports on the company. BidaskClub raised Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, December 30th. Jefferies Group set a $70.00 price objective on Echostar and gave the company a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research raised Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research report on Friday, November 10th. Two equities research 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. Echostar presently has a consensus rating of “Buy” and an average price target of $68.33.

Echostar (NASDAQ SATS) opened at $59.20 on Thursday. The stock has a market capitalization of $5,670.00, a P/E ratio of 50.60, a P/E/G ratio of 3.07 and a beta of 0.74. Echostar has a 12-month low of $51.54 and a 12-month 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.

In related news, CEO Michael T. Dugan sold 3,508 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $62.00, for a total value of $217,496.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael T. Dugan sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $62.11, for a total value of $111,798.00. Following the completion of the transaction, the chief executive officer now directly owns 26,746 shares in the company, valued at $1,661,194.06. The disclosure for this sale can be found here. Corporate insiders own 73.54% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Echostar by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 207 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Echostar by 2.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 39,775 shares of the communications equipment provider’s stock valued at $2,414,000 after buying an additional 873 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Echostar by 24.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,939 shares of the communications equipment provider’s stock valued at $282,000 after buying an additional 957 shares during the last quarter. Vident Investment Advisory LLC raised its stake in Echostar by 3.3% during the 3rd quarter. Vident Investment Advisory LLC now owns 30,658 shares of the communications equipment provider’s stock valued at $1,755,000 after buying an additional 979 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Echostar by 8.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 12,413 shares of the communications equipment provider’s stock valued at $711,000 after buying an additional 994 shares during the last quarter. Institutional investors and hedge funds own 44.51% of the company’s stock.

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About Echostar

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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