EchoStar Corporation (NASDAQ:SATS) Receives $23.75 Consensus Target Price from Analysts

EchoStar Corporation (NASDAQ:SATS) has received a consensus recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.75.

Separately, Citigroup reaffirmed a “neutral” rating on shares of EchoStar in a research note on Monday, June 16th.

EchoStar Stock Up 1.0%

Shares of NASDAQ:SATS opened at $25.12 on Thursday. EchoStar has a 12 month low of $14.79 and a 12 month high of $32.48. The company’s 50-day moving average price is $21.30 and its two-hundred day moving average price is $24.24. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The firm has a market cap of $7.22 billion, a P/E ratio of -33.49 and a beta of 0.74.

EchoStar (NASDAQ:SATS) last issued its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.19. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. As a group, research analysts forecast that EchoStar will post -1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SATS. Farther Finance Advisors LLC raised its position in shares of EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 975 shares during the period. Smartleaf Asset Management LLC raised its position in shares of EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 1,151 shares during the period. Fifth Third Bancorp raised its position in shares of EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock valued at $47,000 after acquiring an additional 567 shares during the period. State of Wyoming acquired a new stake in shares of EchoStar in the 4th quarter valued at approximately $47,000. Finally, GAMMA Investing LLC raised its position in shares of EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock valued at $88,000 after acquiring an additional 976 shares during the period. Institutional investors own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.