Zacks Investment Research upgraded shares of Echostar (NASDAQ:SATS) from a sell rating to a hold rating in a research report sent to investors on Tuesday, March 13th.
According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
SATS has been the topic of a number of other research reports. BidaskClub raised Echostar from a sell rating to a hold rating in a research report on Saturday, December 30th. Jefferies Group set a $70.00 price target on Echostar and gave the stock a hold rating in a research report on Friday, December 1st. TheStreet raised Echostar from a c+ rating to a b- rating in a research report on Tuesday, February 27th. Finally, Citigroup raised their price objective on Echostar from $71.00 to $76.00 and gave the company a buy rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Echostar has a consensus rating of Hold and a consensus price target of $71.00.
Echostar stock opened at $56.40 on Tuesday. Echostar has a 12-month low of $52.11 and a 12-month high of $62.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 8.78 and a current ratio of 8.98. The stock has a market capitalization of $5,468.23, a price-to-earnings ratio of 67.13, a PEG ratio of 3.14 and a beta of 0.76.
Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, February 22nd. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Echostar had a return on equity of 2.06% and a net margin of 20.82%. The firm had revenue of $506.05 million for the quarter, compared to the consensus estimate of $508.33 million. During the same period in the previous year, the company posted $0.40 EPS. Echostar’s quarterly revenue was up 6.4% compared to the same quarter last year. research analysts forecast that Echostar will post 0.98 earnings per share for the current fiscal year.
In other Echostar news, Director Tom A. Ortolf sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $59.71, for a total value of $298,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael T. Dugan sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $62.11, for a total value of $111,798.00. Following the completion of the sale, the chief executive officer now directly owns 26,746 shares of the company’s stock, valued at approximately $1,661,194.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,381 shares of company stock worth $1,105,920. 73.54% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in Echostar by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,952,680 shares of the communications equipment provider’s stock worth $176,866,000 after acquiring an additional 103,300 shares in the last quarter. BlackRock Inc. raised its stake in shares of Echostar by 1.5% in the fourth quarter. BlackRock Inc. now owns 2,093,821 shares of the communications equipment provider’s stock worth $125,420,000 after purchasing an additional 30,922 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of Echostar by 21.0% in the third quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock worth $115,856,000 after purchasing an additional 350,961 shares during the last quarter. Glenhill Advisors LLC raised its stake in shares of Echostar by 0.7% in the fourth quarter. Glenhill Advisors LLC now owns 1,413,016 shares of the communications equipment provider’s stock worth $84,640,000 after purchasing an additional 9,434 shares during the last quarter. Finally, CDAM UK Ltd purchased a new position in shares of Echostar in the fourth quarter worth about $56,162,000. 45.87% of the stock is owned by institutional investors and hedge funds.
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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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