TD Cowen Has Lowered Expectations for Echostar (NASDAQ:ECHO) Stock Price

Echostar (NASDAQ:ECHO) had its price objective reduced by research analysts at TD Cowen from $155.00 to $130.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 43.77% from the stock’s previous close.

A number of other analysts have also commented on the company. Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Citigroup lowered their price objective on shares of Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 17th. New Street Research set a $165.00 price objective on shares of Echostar in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Echostar Stock Performance

Shares of NASDAQ:ECHO traded up $4.79 during trading on Tuesday, reaching $90.42. 2,023,257 shares of the company traded hands, compared to its average volume of 7,176,139. The company has a market cap of $26.20 billion, a price-to-earnings ratio of -1.80 and a beta of 1.00. Echostar has a 52 week low of $26.14 and a 52 week high of $147.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.

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

Insider Buying and Selling

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. 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 owned by company insiders.

Institutional Investors Weigh In On Echostar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sachem Head Capital Management LP purchased a new position in Echostar during the 4th quarter valued at about $568,218,000. Norges Bank acquired a new position in Echostar in the fourth quarter valued at $182,111,000. Tema ETFs LLC increased its holdings in shares of Echostar by 83,917.0% in the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock valued at $156,228,000 after purchasing an additional 1,537,359 shares during the period. 140 Summer Partners LP purchased a new stake in Echostar in the 4th quarter valued at approximately $99,678,000. Finally, Atreides Management LP acquired a new stake in shares of Echostar in the fourth quarter valued at about $97,948,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Echostar

Here are the key news stories impacting Echostar this week:

• Positive Sentiment: EchoStar reported second-quarter adjusted earnings of $0.19 per share, surpassing the consensus estimate for a $0.29 loss and improving from a $1.06 loss a year earlier. Reported EPS was also boosted by significant items. EchoStar Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: The earnings update supports a more constructive investment case for ECHO, with analysts highlighting improved profitability and the possibility that the company’s restructuring and wireless assets could create value. EchoStar Q2 Investment Case
• Neutral Sentiment: Second-quarter revenue was approximately $3.58 billion, slightly below expectations and down about 4% year over year. The mixed results mean investors are weighing earnings improvement against continued top-line pressure. EchoStar Second-Quarter Financial Results
• Negative Sentiment: EchoStar’s Hughes satellite-internet subsidiary filed for Chapter 11 bankruptcy protection as roughly $1.5 billion of debt comes due. The company indicated expected liabilities in the range of $5 billion to $7 billion, increasing uncertainty around restructuring costs and creditor recoveries. EchoStar Hughes Liability Range
• Negative Sentiment: Hughes faces intensifying competition from SpaceX’s Starlink, while the bankruptcy process is expected to include workforce reductions of about one-third of its U.S. employees and an executive exodus. EchoStar also lost 241,000 pay-TV subscribers during the quarter, underscoring pressure across legacy businesses. HughesNet Competition from Starlink

About Echostar

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.