EchoStar (NASDAQ:SATS) Price Target Raised to $28.50

EchoStar (NASDAQ:SATS) had its price objective raised by Citigroup from $27.00 to $28.50 in a research report report published on Monday,Benzinga reports. The firm currently has a neutral rating on the communications equipment provider’s stock.

EchoStar Stock Performance

Shares of SATS opened at $25.15 on Monday. EchoStar has a 12 month low of $14.79 and a 12 month high of $32.48. The firm has a fifty day simple moving average of $21.35 and a 200 day simple moving average of $24.25. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -33.53 and a beta of 0.75. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 1.26.

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

Institutional Trading of EchoStar

Large investors have recently added to or reduced their stakes in the company. FIL Ltd lifted its stake in EchoStar by 139.9% in the fourth quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider’s stock valued at $13,769,000 after acquiring an additional 350,650 shares during the last quarter. Rhumbline Advisers raised its position in shares of EchoStar by 4.7% in the first quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider’s stock valued at $10,027,000 after purchasing an additional 17,448 shares during the period. Nebula Research & Development LLC raised its position in shares of EchoStar by 88.7% in the fourth quarter. Nebula Research & Development LLC now owns 41,673 shares of the communications equipment provider’s stock valued at $954,000 after purchasing an additional 19,590 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of EchoStar by 30.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider’s stock valued at $1,582,000 after purchasing an additional 16,253 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of EchoStar by 3,470.8% in the first quarter. GAMMA Investing LLC now owns 88,021 shares of the communications equipment provider’s stock valued at $2,252,000 after purchasing an additional 85,556 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Company Profile

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.