Echostar CORP (NASDAQ:ECHO) Receives $137.71 Consensus Target Price from Analysts

Shares of Echostar CORP (NASDAQ:ECHO) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $136.25.

Several research analysts recently weighed in on ECHO shares. Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen increased their price target on shares of Echostar from $129.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. Citigroup initiated coverage on shares of Echostar in a report on Tuesday, July 7th. They issued a “buy” rating and a $126.00 target price on the stock. Finally, New Street Research set a $165.00 price target on Echostar in a research report on Monday, June 15th.

Echostar Stock Performance

Shares of NASDAQ:ECHO opened at $86.13 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The company has a market cap of $24.96 billion, a P/E ratio of -1.72 and a beta of 1.00. Echostar has a 1-year low of $26.04 and a 1-year high of $147.25.

Echostar (NASDAQ:ECHO) last announced its earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. Echostar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The company had revenue of $3.67 billion for the quarter. Sell-side analysts predict that Echostar will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at $104,741,593. This represents a 5.73% decrease in their position. 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. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Echostar

A number of hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new position in Echostar in the fourth quarter worth about $26,000. CoreCap Advisors LLC bought a new position in shares of Echostar in the fourth quarter valued at about $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Echostar in the first quarter worth about $34,000. Pittenger & Anderson Inc. acquired a new position in Echostar during the 2nd quarter worth $38,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Company Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.