DISH Network Corp. (NASDAQ: DISH)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a research report issued on Wednesday, AnalystRatingsNetwork reports. They currently have a $61.00 price objective on the stock, up from their previous price objective of $43.00. Citigroup Inc.’s target price points to a potential upside of 36.65% from the stock’s previous close.
The analysts wrote, “Mr. Ergen faces twin strategic challenges. For his DBS business, the balance of power still skews heavily in favor of the content firms putting secular pressure on video margins. And, following the failed attempt to acquire Sprint – coupled with T-Mobile’s acquisition of MetroPCS and AT&T’s offer for Leap – Dish’s wireless spectrum is quickly running out of strategic partners. In light of these twin challenges, Mr. Ergen has two broad options: 1) Hold the assets that he has and attempt to navigate these challenges as a standalone firm or 2) Sell his wireless and DBS assets to suitors that may create more economic value than Dish could on its own. We suspect Mr. Ergen is savvy enough to recognize that a sale of his assets is the most prudent – and most lucrative – course of action.”
DISH Network Corp. (NASDAQ: DISH) traded up 1.32% on Wednesday, hitting $45.23. DISH Network Corp. has a 52-week low of $27.91 and a 52-week high of $44.96. The stock’s 50-day moving average is currently $40.47. The company has a market cap of $20.565 billion and a price-to-earnings ratio of 41.14.
DISH Network Corp. (NASDAQ: DISH) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.06. The company had revenue of $356.00 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company posted $0.80 earnings per share. DISH Network Corp.’s revenue was down .7% compared to the same quarter last year. Analysts expect that DISH Network Corp. will post $2.03 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their EPS on shares of DISH Network Corp. in a research note to investors on Tuesday. They now have an “outperform” rating and a $50.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Merrill Lynch reiterated an “underperform” rating on shares of DISH Network Corp. in a research note to investors on Monday, July 8th. Finally, analysts at Thomson Reuters/Verus upgraded shares of DISH Network Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, July 8th.
Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. DISH Network Corp. has a consensus rating of “Hold” and an average price target of $42.72.
DISH Network Corporation is a pay-television (NASDAQ: DISH) provider, with approximately 13.
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