Shares of DISH Network Corp (NASDAQ:DISH) have been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $56.97.
Several research firms have recently weighed in on DISH. Barclays dropped their target price on shares of DISH Network from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, April 16th. Moffett Nathanson raised shares of DISH Network from a “sell” rating to a “neutral” rating and set a $37.00 target price on the stock in a research report on Friday, March 23rd. They noted that the move was a valuation call. Morgan Stanley dropped their target price on shares of DISH Network from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, April 23rd. ValuEngine downgraded shares of DISH Network from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Cowen set a $54.00 target price on shares of DISH Network and gave the stock a “buy” rating in a research report on Monday, March 26th.
Shares of DISH Network traded up $0.18, reaching $33.21, during midday trading on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 1,165,900 shares, compared to its average volume of 2,774,205. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.74 and a quick ratio of 0.66. DISH Network has a one year low of $28.80 and a one year high of $66.50. The company has a market capitalization of $15.71 billion, a P/E ratio of 13.07, a PEG ratio of -6.50 and a beta of 1.16.
DISH Network (NASDAQ:DISH) last released its earnings results on Tuesday, May 8th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.02). The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.49 billion. DISH Network had a return on equity of 20.48% and a net margin of 14.75%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned $0.76 earnings per share. analysts anticipate that DISH Network will post 2.58 earnings per share for the current year.
In related news, EVP James Defranco acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 28th. The shares were purchased at an average cost of $32.99 per share, with a total value of $164,950.00. Following the completion of the transaction, the executive vice president now owns 1,153,529 shares of the company’s stock, valued at approximately $38,054,921.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles W. Ergen acquired 100,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The shares were bought at an average cost of $29.37 per share, for a total transaction of $2,937,000.00. Following the completion of the transaction, the chairman now directly owns 696,470 shares of the company’s stock, valued at approximately $20,455,323.90. The disclosure for this purchase can be found here. Insiders have purchased 120,000 shares of company stock worth $3,554,400 over the last ninety days. 49.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in DISH. Thompson Siegel & Walmsley LLC grew its position in DISH Network by 95.2% during the first quarter. Thompson Siegel & Walmsley LLC now owns 3,295,381 shares of the company’s stock valued at $124,862,000 after purchasing an additional 1,606,947 shares in the last quarter. Renaissance Technologies LLC grew its position in DISH Network by 129.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,188,079 shares of the company’s stock worth $56,731,000 after acquiring an additional 669,900 shares in the last quarter. Ascend Capital LLC grew its position in DISH Network by 96.2% in the fourth quarter. Ascend Capital LLC now owns 866,842 shares of the company’s stock worth $41,392,000 after acquiring an additional 424,917 shares in the last quarter. Millennium Management LLC grew its position in DISH Network by 17.6% in the first quarter. Millennium Management LLC now owns 2,599,299 shares of the company’s stock worth $98,487,000 after acquiring an additional 389,930 shares in the last quarter. Finally, Honeycomb Asset Management LP bought a new stake in DISH Network in the fourth quarter worth approximately $14,325,000. 47.87% of the stock is currently owned by hedge funds and other institutional investors.
DISH Network Company Profile
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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