An issue of Dish Network (NASDAQ:DISH) bonds fell 1.5% against their face value during trading on Monday after Morgan Stanley lowered their price target on the stock from $55.00 to $45.00. The high-yield issue of debt has a 5.875% coupon and is set to mature on November 15, 2024. The bonds in the issue are now trading at $89.25 and were trading at $92.75 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
Several other research analysts have also recently weighed in on the company. Barclays reduced their price objective on Dish Network from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, April 16th. ValuEngine cut Dish Network from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Cowen set a $54.00 price objective on Dish Network and gave the stock a “buy” rating in a research report on Monday, March 26th. Moffett Nathanson raised Dish Network from a “sell” rating to a “neutral” rating and set a $37.00 price objective for the company in a research report on Friday, March 23rd. They noted that the move was a valuation call. Finally, SunTrust Banks reduced their price objective on Dish Network to $44.00 and set a “hold” rating for the company in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.45.
In related news, EVP Vivek Khemka sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $39.03, for a total transaction of $234,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey L. Mcschooler sold 739 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $37.66, for a total value of $27,830.74. The disclosure for this sale can be found here. Insiders have sold 7,190 shares of company stock valued at $279,087 over the last three months. Insiders own 49.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its stake in Dish Network by 151.5% in the fourth quarter. State of Alaska Department of Revenue now owns 37,172 shares of the company’s stock valued at $1,773,000 after buying an additional 22,390 shares during the period. Meadow Creek Investment Management LLC raised its stake in Dish Network by 12.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 13,748 shares of the company’s stock valued at $657,000 after buying an additional 1,512 shares during the period. Parametrica Management Ltd bought a new stake in Dish Network in the fourth quarter valued at approximately $314,000. Zeke Capital Advisors LLC bought a new stake in Dish Network in the fourth quarter valued at approximately $677,000. Finally, ING Groep NV raised its stake in Dish Network by 24.8% in the fourth quarter. ING Groep NV now owns 10,204 shares of the company’s stock valued at $487,000 after buying an additional 2,025 shares during the period. Hedge funds and other institutional investors own 48.15% of the company’s stock.
The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 2.18. The company has a market cap of $17,366.87, a PE ratio of 14.65, a P/E/G ratio of -7.41 and a beta of 1.13.
Dish Network (NASDAQ:DISH) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.52 billion. Dish Network had a return on equity of 22.56% and a net margin of 14.59%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. equities analysts forecast that Dish Network will post 2.51 earnings per share for the current fiscal year.
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About Dish Network
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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