SATS has been the subject of a number of other research reports. Zacks Investment Research raised shares of Echostar from a strong sell rating to a hold rating in a research report on Saturday, November 9th. Raymond James reissued a strong-buy rating and issued a $61.00 price objective (down previously from $68.00) on shares of Echostar in a research report on Wednesday, September 11th. ValuEngine downgraded shares of Echostar from a buy rating to a hold rating in a research report on Monday, November 4th. Finally, Citigroup downgraded shares of Echostar from a buy rating to a neutral rating and decreased their price objective for the company from $48.00 to $44.00 in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $49.67.
SATS stock traded up $0.12 during midday trading on Friday, hitting $40.36. The company’s stock had a trading volume of 348,700 shares, compared to its average volume of 484,847. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.35 and a quick ratio of 6.17. Echostar has a twelve month low of $27.29 and a twelve month high of $43.04. The company’s fifty day moving average price is $38.61 and its 200 day moving average price is $41.45. The stock has a market capitalization of $3.95 billion, a P/E ratio of 106.21 and a beta of 0.81.
Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.20. Echostar had a negative net margin of 5.86% and a negative return on equity of 0.31%. The firm had revenue of $472.26 million for the quarter, compared to analyst estimates of $470.15 million. During the same period in the previous year, the business earned $0.17 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Echostar will post -0.79 EPS for the current fiscal year.
In other news, CEO Michael T. Dugan sold 22,348 shares of Echostar stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $41.53, for a total value of $928,112.44. Following the completion of the transaction, the chief executive officer now owns 73,787 shares of the company’s stock, valued at approximately $3,064,374.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 52.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in SATS. Nuveen Asset Management LLC bought a new stake in shares of Echostar during the 2nd quarter worth about $14,790,000. Renaissance Technologies LLC boosted its holdings in shares of Echostar by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock worth $157,406,000 after buying an additional 270,500 shares during the period. Clearline Capital LP bought a new stake in shares of Echostar during the 2nd quarter worth about $11,478,000. Park West Asset Management LLC boosted its holdings in shares of Echostar by 23.8% during the 2nd quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock worth $43,064,000 after buying an additional 186,615 shares during the period. Finally, AXA bought a new stake in shares of Echostar during the 2nd quarter worth about $6,480,000. 44.06% of the stock is owned by institutional investors and hedge funds.
Echostar Company Profile
EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.
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