EchoStar Corporation (SATS) Receives $63.33 Average PT from Brokerages
Shares of EchoStar Corporation (NASDAQ:SATS) have received an average rating of “Buy” from the five analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $63.33.
Several equities analysts have recently weighed in on the company. TheStreet downgraded EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. BidaskClub downgraded EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Jefferies Group LLC assumed coverage on EchoStar Corporation in a report on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company.
EchoStar Corporation (NASDAQ:SATS) traded up 0.12% during trading on Tuesday, reaching $56.51. 53,989 shares of the company’s stock were exchanged. The stock has a market cap of $5.41 billion, a PE ratio of 44.88 and a beta of 0.69. The firm has a 50 day moving average of $57.57 and a 200-day moving average of $58.51. EchoStar Corporation has a 12 month low of $44.01 and a 12 month high of $62.50.
EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. EchoStar Corporation’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that EchoStar Corporation will post $0.83 earnings per share for the current fiscal year.
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In related news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total value of $418,556.16. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The disclosure for this sale can be found here. 73.54% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in EchoStar Corporation in the 2nd quarter worth about $306,000. Public Employees Retirement System of Ohio increased its holdings in EchoStar Corporation by 19.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,996 shares of the communications equipment provider’s stock worth $1,092,000 after buying an additional 2,925 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in EchoStar Corporation by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after buying an additional 207 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in EchoStar Corporation by 390.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after buying an additional 2,732 shares in the last quarter. Finally, State Street Corp increased its holdings in EchoStar Corporation by 2.7% in the 2nd quarter. State Street Corp now owns 693,263 shares of the communications equipment provider’s stock worth $42,081,000 after buying an additional 18,468 shares in the last quarter. Institutional investors own 45.04% of the company’s stock.
About EchoStar Corporation
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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