EchoStar Corporation (NASDAQ:SATS) Receives $75.20 Average PT from Analysts

Shares of EchoStar Corporation (NASDAQ:SATS) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $75.20.

Several analysts have issued reports on SATS shares. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research note on Tuesday, September 9th. Cowen reaffirmed a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Citigroup upped their price target on shares of EchoStar from $67.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. TD Cowen upped their price target on shares of EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Saturday, September 27th.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $77.12 on Friday. The company’s fifty day moving average is $53.11 and its two-hundred day moving average is $34.02. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. EchoStar has a 12-month low of $14.90 and a 12-month high of $85.37. The company has a market cap of $22.19 billion, a P/E ratio of -73.45 and a beta of 0.96.

EchoStar (NASDAQ:SATS) last announced its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the previous year, the business earned ($0.76) EPS. The company’s revenue was down 5.8% on a year-over-year basis. Equities analysts expect that EchoStar will post -1.99 earnings per share for the current fiscal year.

Insider Activity at EchoStar

In other news, COO John Swieringa sold 154,835 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $81.20, for a total value of $12,572,602.00. Following the transaction, the chief operating officer directly owned 432 shares of the company’s stock, valued at approximately $35,078.40. This represents a 99.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hamid Akhavan sold 233,918 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the completion of the sale, the chief executive officer owned 376,805 shares of the company’s stock, valued at $28,392,256.75. This represents a 38.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 460,740 shares of company stock valued at $35,967,480. 55.90% of the stock is owned by insiders.

Institutional Investors Weigh In On EchoStar

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 975 shares in the last quarter. State of Wyoming bought a new stake in EchoStar in the fourth quarter worth $47,000. Fifth Third Bancorp boosted its holdings in EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 567 shares in the last quarter. Lazard Asset Management LLC bought a new stake in EchoStar in the second quarter worth $73,000. Finally, GAMMA Investing LLC boosted its holdings in EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 976 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.