EchoStar Corp. (SATS) Rating Increased to Buy at Zacks Investment Research
EchoStar Corp. (NASDAQ:SATS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $55.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 9.15% from the stock’s current price.
According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
SATS has been the subject of a number of other research reports. TheStreet raised shares of EchoStar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Citigroup Inc. boosted their target price on shares of EchoStar Corp. from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th.
EchoStar Corp. (NASDAQ:SATS) opened at 50.39 on Friday. The company has a market cap of $4.74 billion, a P/E ratio of 22.61 and a beta of 0.84. The company has a 50 day moving average of $45.87 and a 200-day moving average of $40.99. EchoStar Corp. has a one year low of $30.86 and a one year high of $50.70.
EchoStar Corp. (NASDAQ:SATS) last released its earnings results on Tuesday, November 8th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. The business earned $742 million during the quarter, compared to analysts’ expectations of $735.61 million. EchoStar Corp. had a net margin of 6.60% and a return on equity of 5.28%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, equities analysts expect that EchoStar Corp. will post $1.83 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Quaker Capital Investments LLC boosted its stake in shares of EchoStar Corp. by 769.0% in the second quarter. Quaker Capital Investments LLC now owns 236,368 shares of the company’s stock valued at $9,384,000 after buying an additional 209,168 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of EchoStar Corp. by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,253,304 shares of the company’s stock valued at $129,157,000 after buying an additional 148,602 shares in the last quarter. Mangrove Partners boosted its stake in shares of EchoStar Corp. by 8.9% in the third quarter. Mangrove Partners now owns 1,478,728 shares of the company’s stock valued at $64,813,000 after buying an additional 120,610 shares in the last quarter. UBS Oconnor LLC acquired a new stake in shares of EchoStar Corp. during the third quarter valued at about $5,011,000. Finally, Pagoda Asset Management LP boosted its stake in shares of EchoStar Corp. by 277.4% in the third quarter. Pagoda Asset Management LP now owns 130,546 shares of the company’s stock valued at $5,722,000 after buying an additional 95,951 shares in the last quarter. 44.04% of the stock is owned by institutional investors.
About EchoStar Corp.
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
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