DISH Network Corporation (DISH) Price Target Lowered to $52.00 at HSBC Holdings plc
DISH Network Corporation (NASDAQ:DISH) had its price target cut by HSBC Holdings plc from $62.00 to $52.00 in a research report sent to investors on Tuesday. They currently have a hold rating on the stock.
Other equities analysts have also issued reports about the stock. Citigroup Inc. upgraded shares of DISH Network Corporation from a sell rating to a neutral rating and set a $54.00 price objective on the stock in a research report on Friday, September 15th. Macquarie reiterated a hold rating and issued a $60.00 price objective (down from $68.00) on shares of DISH Network Corporation in a research report on Monday, October 2nd. Wells Fargo & Company reiterated an outperform rating and issued a $88.50 price objective on shares of DISH Network Corporation in a research report on Thursday, August 31st. BidaskClub lowered shares of DISH Network Corporation from a hold rating to a sell rating in a research report on Monday, July 31st. Finally, TheStreet lowered shares of DISH Network Corporation from a b rating to a c+ rating in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $67.38.
DISH Network Corporation (NASDAQ:DISH) traded up 1.8768% during mid-day trading on Tuesday, reaching $49.7668. 660,332 shares of the company’s stock traded hands. The stock’s 50 day moving average is $54.01 and its 200-day moving average is $60.48. The stock has a market capitalization of $23.20 billion, a PE ratio of 23.1473 and a beta of 0.99. DISH Network Corporation has a 52 week low of $47.48 and a 52 week high of $66.50.
DISH Network Corporation (NASDAQ:DISH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.67). The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.71 billion. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, equities analysts anticipate that DISH Network Corporation will post $2.15 EPS for the current year.
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In related news, CEO Roger Lynch sold 25,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $59.73, for a total value of $1,493,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey L. Mcschooler sold 785 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $56.61, for a total transaction of $44,438.85. Following the completion of the transaction, the executive vice president now directly owns 165 shares of the company’s stock, valued at approximately $9,340.65. The disclosure for this sale can be found here. Insiders sold a total of 26,110 shares of company stock valued at $1,555,296 in the last three months. 49.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC raised its stake in DISH Network Corporation by 20,725.0% in the 2nd quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock valued at $105,000 after purchasing an additional 1,658 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in DISH Network Corporation by 4.2% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock valued at $157,000 after purchasing an additional 100 shares during the last quarter. Invictus RG acquired a new position in DISH Network Corporation in the 1st quarter valued at about $160,000. Huntington National Bank raised its stake in DISH Network Corporation by 12.1% in the 2nd quarter. Huntington National Bank now owns 2,600 shares of the company’s stock valued at $163,000 after purchasing an additional 281 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in DISH Network Corporation by 123.9% in the 2nd quarter. Global X Management Co. LLC now owns 3,009 shares of the company’s stock valued at $189,000 after purchasing an additional 1,665 shares during the last quarter. 48.92% of the stock is owned by hedge funds and other institutional investors.
DISH Network Corporation Company Profile
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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