Dish Network Corp. (DISH) Announces Earnings Results
Dish Network Corp. (NASDAQ:DISH) announced its quarterly earnings results on Wednesday. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.04. The company earned $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Dish Network Corp. had a return on equity of 44.63% and a net margin of 6.48%. Dish Network Corp.’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share.
Dish Network Corp. (NASDAQ:DISH) opened at 56.38 on Friday. The stock has a market cap of $26.21 billion, a PE ratio of 30.12 and a beta of 1.05. Dish Network Corp. has a 1-year low of $38.85 and a 1-year high of $64.58. The stock has a 50 day moving average price of $56.30 and a 200 day moving average price of $52.19.
In related news, insider Carl E. Vogel sold 30,000 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $53.54, for a total value of $1,606,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 49.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DISH. Toronto Dominion Bank boosted its position in shares of Dish Network Corp. by 57.4% in the third quarter. Toronto Dominion Bank now owns 1,953 shares of the company’s stock valued at $107,000 after buying an additional 712 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Dish Network Corp. by 25.0% in the third quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock valued at $110,000 after buying an additional 400 shares during the period. Mycio Wealth Partners LLC purchased a new position in shares of Dish Network Corp. during the second quarter valued at about $126,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Dish Network Corp. by 306.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock valued at $128,000 after buying an additional 1,841 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of Dish Network Corp. during the second quarter valued at about $128,000. 45.31% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $56.00 price target (up from $50.00) on shares of Dish Network Corp. in a research note on Sunday, July 24th. Zacks Investment Research cut Dish Network Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Jefferies Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Dish Network Corp. in a research report on Friday, August 26th. Pivotal Research lifted their price objective on Dish Network Corp. from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wunderlich lowered Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 price objective on the stock. in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.63.
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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