Brean Capital reiterated their buy rating on shares of DISH Network Corp. (NASDAQ:DISH) in a research report sent to investors on Wednesday morning, AnalystRatings.NET reports. The firm currently has a $55.00 price target on the stock, up from their previous price target of $54.00.
“DISH reported a better-than-expected 35,000 net adds, on lower churn and solid ARPU trends. Results capped off a strong quarter for both satellite operators, highlighting the value of a differentiated video offering. DISH’s Chairman Ergen detailed recent rulings from the FCC repurposing the utility of DISH’s existing spectrum and outlining his position on Lightsquared ahead of the H-Block auction. Meanwhile, his message on wireless is narrowing; partner, or partners, mobile, video centric, and related and enhancing the core business. We believe the smart bet is that DISH has a road map to a lower fixed cost structure for delivering two-way video content to mobile devices, and the market opportunity is significant. Judging from the stock reaction yesterday, our concerns that investors might be looking for a quicker payback in the sale of the company or its spectrum appear to be overdone. As a result, we are raising our price target to $55 from $54 and reiterate our Buy rating.,” Brean Capital’s analyst commented.
DISH has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of DISH Network Corp. from a sell rating to a hold rating in a research note to investors on Monday, November 4th. Separately, analysts at Zacks reiterated a sell rating on shares of DISH Network Corp. in a research note to investors on Sunday, October 27th. They now have a $42.00 price target on the stock. Finally, analysts at FBR & Co. initiated coverage on shares of DISH Network Corp. in a research note to investors on Friday, October 25th. They set an underperform rating on the stock. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $48.33.
Shares of DISH Network Corp. (NASDAQ:DISH) traded down 0.89% during mid-day trading on Wednesday, hitting $51.06. 2,277,100 shares of the company’s stock traded hands. DISH Network Corp. has a one year low of $33.79 and a one year high of $51.69. The stock’s 50-day moving average is $47.97 and its 200-day moving average is $44.0. The company has a market cap of $23.317 billion and a P/E ratio of 91.51. DISH Network Corp. also was the recipient of some unusual options trading activity on Monday. Stock traders bought 11,045 put options on the stock. This is an increase of approximately 339% compared to the typical daily volume of 2,518 put options.
DISH Network Corp. (NASDAQ:DISH) last released its earnings data on Tuesday, November 12th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.25. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that DISH Network Corp. will post $1.46 earnings per share for the current fiscal year.
DISH Network Corporation is a pay-television (NASDAQ:DISH) provider, with approximately 13.
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