DISH Network Corp (DISH) Price Target Cut to $102.00
DISH Network Corp (NASDAQ:DISH) had its price target reduced by analysts at Deutsche Bank AG from $103.00 to $102.00 in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s target price points to a potential upside of 70.45% from the company’s previous close.
A number of other research analysts have also recently issued reports on DISH. SunTrust Banks, Inc. began coverage on DISH Network Corp in a research note on Tuesday. They set a “hold” rating and a $60.00 price objective for the company. Macquarie cut DISH Network Corp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $61.00 in a research note on Tuesday. Jefferies Group LLC reiterated a “buy” rating and set a $80.00 price objective on shares of DISH Network Corp in a research note on Friday, March 31st. Barclays PLC reiterated an “equal weight” rating and set a $62.00 price objective (up previously from $59.00) on shares of DISH Network Corp in a research note on Thursday, February 23rd. Finally, Citigroup Inc reiterated a “focus list” rating on shares of DISH Network Corp in a research note on Wednesday, January 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $68.03.
Shares of DISH Network Corp (NASDAQ:DISH) traded up 0.44% during trading on Wednesday, reaching $59.84. The company’s stock had a trading volume of 3,039,821 shares. The stock has a market cap of $27.85 billion, a price-to-earnings ratio of 19.61 and a beta of 1.09. The stock’s 50 day moving average price is $62.39 and its 200-day moving average price is $59.68. DISH Network Corp has a 52-week low of $43.86 and a 52-week high of $64.74.
DISH Network Corp (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The business earned $3.72 billion during the quarter, compared to analysts’ expectations of $3.76 billion. DISH Network Corp had a return on equity of 40.84% and a net margin of 6.48%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.27) earnings per share. Equities analysts anticipate that DISH Network Corp will post $2.75 EPS for the current year.
In other DISH Network Corp news, Treasurer Kyle J. Kiser sold 32,500 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $61.90, for a total transaction of $2,011,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Warren Schlichting sold 8,878 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $61.90, for a total value of $549,548.20. The disclosure for this sale can be found here. Insiders own 49.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in DISH. Huntington National Bank raised its stake in DISH Network Corp by 0.8% in the first quarter. Huntington National Bank now owns 2,319 shares of the company’s stock valued at $147,000 after buying an additional 19 shares in the last quarter. American International Group Inc. raised its stake in DISH Network Corp by 0.3% in the third quarter. American International Group Inc. now owns 18,115 shares of the company’s stock valued at $992,000 after buying an additional 46 shares in the last quarter. Private Advisor Group LLC raised its stake in DISH Network Corp by 2.0% in the fourth quarter. Private Advisor Group LLC now owns 4,080 shares of the company’s stock valued at $252,000 after buying an additional 80 shares in the last quarter. Profund Advisors LLC raised its stake in DISH Network Corp by 0.8% in the third quarter. Profund Advisors LLC now owns 15,395 shares of the company’s stock valued at $843,000 after buying an additional 117 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in DISH Network Corp by 0.3% in the fourth quarter. Brown Advisory Inc. now owns 49,493 shares of the company’s stock valued at $2,867,000 after buying an additional 159 shares in the last quarter. 47.98% of the stock is owned by institutional investors and hedge funds.
About DISH Network Corp
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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