Echostar (SATS) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Echostar (NASDAQ:SATS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Echostar from a sell rating to a hold rating in a report on Tuesday, March 13th. TheStreet upgraded shares of Echostar from a c+ rating to a b- rating in a report on Tuesday, February 27th. Finally, Citigroup raised their target price on shares of Echostar from $71.00 to $76.00 and gave the stock a buy rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Echostar presently has an average rating of Hold and an average price target of $71.00.

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Shares of SATS stock opened at $53.71 on Tuesday. Echostar has a 12-month low of $51.70 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 company has a market capitalization of $5,263.15, a P/E ratio of 63.94, a P/E/G ratio of 14.17 and a beta of 0.82.

Echostar (NASDAQ:SATS) last issued its earnings results on Thursday, February 22nd. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). Echostar had a return on equity of 2.06% and a net margin of 20.82%. The company had revenue of $506.05 million during the quarter, compared to analysts’ expectations of $508.33 million. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities analysts predict that Echostar will post 0.77 EPS for the current year.

In other Echostar news, CEO Michael T. Dugan sold 3,508 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $62.00, for a total value of $217,496.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Rayner sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $58.76, for a total transaction of $235,040.00. The disclosure for this sale can be found here. Insiders sold 18,381 shares of company stock worth $1,105,920 over the last quarter. Insiders own 73.54% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new position in Echostar in the fourth quarter worth approximately $306,000. Macquarie Group Ltd. raised its position in Echostar by 902.2% in the fourth quarter. Macquarie Group Ltd. now owns 46,100 shares of the communications equipment provider’s stock worth $2,761,000 after acquiring an additional 41,500 shares during the period. Verition Fund Management LLC raised its position in Echostar by 180.6% in the fourth quarter. Verition Fund Management LLC now owns 18,633 shares of the communications equipment provider’s stock worth $1,116,000 after acquiring an additional 11,993 shares during the period. Millennium Management LLC raised its position in Echostar by 338.8% in the fourth quarter. Millennium Management LLC now owns 329,251 shares of the communications equipment provider’s stock worth $19,722,000 after acquiring an additional 254,210 shares during the period. Finally, Teachers Advisors LLC raised its position in Echostar by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 59,929 shares of the communications equipment provider’s stock worth $3,590,000 after acquiring an additional 5,059 shares during the period. Institutional investors and hedge funds own 45.87% 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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