Echostar (SATS) Rating Increased to Sell at BidaskClub

Echostar (NASDAQ:SATS) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.

Several other research firms have also commented on SATS. ValuEngine upgraded shares of Echostar from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded shares of Echostar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.67.

NASDAQ:SATS traded down $0.05 on Friday, hitting $41.36. The stock had a trading volume of 209,146 shares, compared to its average volume of 399,202. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.71 and a current ratio of 2.77. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 57.44 and a beta of 0.88. Echostar has a 1 year low of $36.72 and a 1 year high of $62.29.

Echostar (NASDAQ:SATS) last posted its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.48. The firm had revenue of $525.96 million during the quarter, compared to analyst estimates of $511.50 million. Echostar had a net margin of 20.03% and a return on equity of 1.71%. As a group, sell-side analysts forecast that Echostar will post 0.52 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its position in shares of Echostar by 267,100.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,672 shares of the communications equipment provider’s stock valued at $141,000 after acquiring an additional 2,671 shares during the period. NumerixS Investment Technologies Inc grew its position in shares of Echostar by 138.5% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,100 shares of the communications equipment provider’s stock valued at $139,000 after acquiring an additional 1,800 shares during the period. Signition LP bought a new position in shares of Echostar during the 2nd quarter valued at approximately $214,000. State of Alaska Department of Revenue grew its position in shares of Echostar by 40.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,190 shares of the communications equipment provider’s stock valued at $230,000 after acquiring an additional 1,490 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Echostar during the 2nd quarter valued at approximately $248,000. 47.73% of the stock is owned by hedge funds and other institutional investors.

About Echostar

EchoStar Corporation provides satellite service operations and video delivery solutions worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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