Zacks Investment Research Downgrades Dish Network Corp. (DISH) to Hold
Dish Network Corp. (NASDAQ:DISH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator should aid the company’s performance as it has emerged as a strong alternative to counter the competitive threat from video streaming operators. Further, DISH Network is poised to benefit from its recent launch of a new version of its Internet TV service — Sling TV, which will allow subscribers to stream on up to three different devices simultaneously for $20 a month. However, persistent loss of subscribers remains a headwind for DISH Network. Also, DISH's margins may face pressure if it is unable to renew its long-term programming contracts on favorable pricing and other economic terms.”
Other analysts also recently issued research reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Dish Network Corp. in a research report on Friday, July 22nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Dish Network Corp. in a research report on Saturday, June 4th. Wells Fargo & Co. reissued a “buy” rating and set a $119.00 price target on shares of Dish Network Corp. in a research report on Friday, June 3rd. TheStreet raised Dish Network Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Macquarie reissued a “hold” rating and set a $62.00 price target on shares of Dish Network Corp. in a research report on Tuesday, May 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Dish Network Corp. currently has a consensus rating of “Hold” and a consensus price target of $66.24.
Dish Network Corp. (NASDAQ:DISH) opened at 54.35 on Monday. Dish Network Corp. has a one year low of $38.85 and a one year high of $65.49. The stock’s 50 day moving average price is $51.26 and its 200-day moving average price is $50.02. The firm has a market cap of $25.27 billion, a price-to-earnings ratio of 29.03 and a beta of 0.79.
Dish Network Corp. (NASDAQ:DISH) last released its earnings results on Thursday, July 21st. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.17. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.86 billion. Dish Network Corp. had a return on equity of 42.01% and a net margin of 5.75%. Dish Network Corp.’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Analysts forecast that Dish Network Corp. will post $3.08 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in shares of Dish Network Corp. during the first quarter valued at about $288,000. Landscape Capital Management L.L.C. bought a new position in shares of Dish Network Corp. during the first quarter valued at about $456,000. NN Investment Partners Holdings N.V. bought a new position in shares of Dish Network Corp. during the first quarter valued at about $1,788,000. BlackRock Inc. increased its position in shares of Dish Network Corp. by 4.0% in the first quarter. BlackRock Inc. now owns 237,226 shares of the company’s stock valued at $10,975,000 after buying an additional 9,091 shares during the period. Finally, Institutional Capital LLC bought a new position in shares of Dish Network Corp. during the first quarter valued at about $120,147,000. Institutional investors own 45.34% of the company’s stock.
Dish Network Corp. Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: DISH and Wireless. It offers Pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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