EchoStar Corporation (NASDAQ:SATS) Given Average Recommendation of “Hold” by Brokerages

Shares of EchoStar Corporation (NASDAQ:SATS) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $137.7143.

A number of research firms have issued reports on SATS. Zacks Research cut EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. TD Cowen lifted their target price on EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, New Street Research set a $165.00 target price on EchoStar in a research report on Monday, June 15th.

EchoStar Stock Down 0.1%

Shares of NASDAQ SATS opened at $103.80 on Monday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. EchoStar has a 52 week low of $24.15 and a 52 week high of $147.25. The stock has a market capitalization of $30.08 billion, a P/E ratio of -2.07 and a beta of 0.94. The stock’s fifty day moving average is $122.46 and its 200 day moving average is $117.21.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the business posted ($0.71) EPS.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in EchoStar in the fourth quarter valued at about $26,000. CoreCap Advisors LLC bought a new position in EchoStar in the fourth quarter valued at about $28,000. Rosenberg Matthew Hamilton bought a new position in EchoStar in the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. acquired a new stake in shares of EchoStar during the first quarter valued at about $34,000. Finally, NewEdge Advisors LLC grew its holdings in shares of EchoStar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.