EchoStar Corporation (NASDAQ:SATS) – Equities researchers at Jefferies Group increased their FY2017 EPS estimates for EchoStar in a research note issued on Friday. Jefferies Group analyst G. Thorne now anticipates that the communications equipment provider will earn $1.05 per share for the year, up from their previous forecast of $0.96. Jefferies Group currently has a “Hold” rating and a $70.00 target price on the stock. Jefferies Group also issued estimates for EchoStar’s FY2018 earnings at $1.40 EPS and FY2020 earnings at $2.41 EPS.
EchoStar (NASDAQ:SATS) last announced its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.37. The company had revenue of $481.20 million during the quarter, compared to the consensus estimate of $477.33 million. EchoStar had a net margin of 5.55% and a return on equity of 2.85%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share.
Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of EchoStar from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Zacks Investment Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Friday, November 10th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $68.33.
Shares of EchoStar (SATS) opened at $58.80 on Monday. EchoStar has a 1-year low of $49.82 and a 1-year high of $62.50. The company has a current ratio of 8.61, a quick ratio of 8.40 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5,630.00, a PE ratio of 51.58, a P/E/G ratio of 2.88 and a beta of 0.78.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in EchoStar during the third quarter worth about $145,000. The Manufacturers Life Insurance Company increased its stake in shares of EchoStar by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after purchasing an additional 207 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of EchoStar in the third quarter worth about $204,000. Cubist Systematic Strategies LLC increased its stake in shares of EchoStar by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of EchoStar by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock worth $227,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 44.48% of the company’s stock.
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EchoStar Company Profile
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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