Morgan Stanley Lowers DISH Network (NASDAQ:DISH) Price Target to $24.00

DISH Network (NASDAQ:DISHGet Rating) had its price objective cut by research analysts at Morgan Stanley from $29.00 to $24.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 25.00% from the stock’s current price.

A number of other analysts also recently issued reports on DISH. JPMorgan Chase & Co. decreased their target price on DISH Network from $30.00 to $24.00 in a research report on Thursday. Barclays decreased their target price on DISH Network from $25.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, July 7th. Truist Financial raised DISH Network from a “hold” rating to a “buy” rating and raised their target price for the stock from $25.00 to $60.00 in a research report on Tuesday, May 31st. They noted that the move was a valuation call. Raymond James decreased their target price on DISH Network from $49.00 to $42.00 in a research report on Monday, May 9th. Finally, Pivotal Research cut their price target on DISH Network from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.38.

DISH Network Stock Performance

Shares of DISH opened at $19.20 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 5.91, a PEG ratio of 1.27 and a beta of 1.85. The stock has a 50 day moving average of $18.64 and a 200 day moving average of $25.60. DISH Network has a 12 month low of $16.20 and a 12 month high of $46.31.

DISH Network (NASDAQ:DISHGet Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.39 billion. DISH Network had a net margin of 11.84% and a return on equity of 13.11%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, sell-side analysts forecast that DISH Network will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Defranco purchased 400,000 shares of the company’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average price of $19.27 per share, with a total value of $7,708,000.00. Following the completion of the purchase, the director now directly owns 1,661,428 shares in the company, valued at approximately $32,015,717.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On DISH Network

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in DISH Network by 268.9% during the first quarter. Covestor Ltd now owns 889 shares of the company’s stock worth $28,000 after purchasing an additional 648 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in DISH Network during the first quarter worth about $30,000. Trust Co. of Vermont bought a new stake in DISH Network during the second quarter worth about $43,000. CVA Family Office LLC bought a new stake in DISH Network during the second quarter worth about $54,000. Finally, Rosenberg Matthew Hamilton bought a new stake in DISH Network during the first quarter worth about $61,000. Institutional investors own 46.90% of the company’s stock.

About DISH Network

(Get Rating)

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

See Also

Analyst Recommendations for DISH Network (NASDAQ:DISH)

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