Echostar Co. (NASDAQ:SATS) shares fell 9.2% during trading on Thursday . The company traded as low as $38.00 and last traded at $38.21. 568,099 shares changed hands during trading, an increase of 125% from the average session volume of 252,834 shares. The stock had previously closed at $42.08.

A number of brokerages have recently commented on SATS. BidaskClub raised Echostar from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine raised Echostar from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.67.

The firm has a market cap of $4.05 billion, a P/E ratio of 45.17 and a beta of 0.88. The company has a quick ratio of 2.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.61.

Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $533.00 million for the quarter, compared to analyst estimates of $554.60 million. Echostar had a return on equity of 1.71% and a net margin of 20.03%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, research analysts anticipate that Echostar Co. will post 0.52 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SATS. NumerixS Investment Technologies Inc grew its holdings in Echostar by 138.5% during the second quarter. NumerixS Investment Technologies Inc now owns 3,100 shares of the communications equipment provider’s stock worth $139,000 after acquiring an additional 1,800 shares during the period. Signition LP acquired a new position in Echostar during the second quarter worth about $214,000. State of Alaska Department of Revenue grew its holdings in Echostar by 40.3% during the second quarter. State of Alaska Department of Revenue now owns 5,190 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 1,490 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Echostar during the second quarter worth about $248,000. Finally, Capital Fund Management S.A. acquired a new position in Echostar during the second quarter worth about $266,000. 47.76% of the stock is currently owned by institutional investors.

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About Echostar (NASDAQ:SATS)

EchoStar Corporation provides satellite service operations and video delivery solutions worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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