FY2016 EPS Estimates for Dish Network Corp. Boosted by FBR & Co (DISH)
Dish Network Corp. (NASDAQ:DISH) – Equities researchers at FBR & Co raised their FY2016 earnings per share estimates for Dish Network Corp. in a report released on Friday. FBR & Co analyst D. Dixon now forecasts that the brokerage will post earnings per share of $2.96 for the year, up from their prior estimate of $2.71. FBR & Co has a “Underperform” rating and a $48.00 price target on the stock.
DISH has been the topic of a number of other reports. RBC Capital Markets reissued a “sector perform” rating and issued a $56.00 price target (up from $50.00) on shares of Dish Network Corp. in a report on Sunday, July 24th. Zacks Investment Research downgraded shares of Dish Network Corp. from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Jefferies Group reissued a “buy” rating and issued a $80.00 price target on shares of Dish Network Corp. in a report on Friday, August 26th. Pivotal Research boosted their price target on shares of Dish Network Corp. from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Finally, Wunderlich downgraded shares of Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 price target on the stock. in a report on Friday, July 22nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $66.74.
Dish Network Corp. (NASDAQ:DISH) opened at 53.97 on Monday. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 28.83 and a beta of 1.05. The firm has a 50-day moving average of $56.35 and a 200 day moving average of $52.27. Dish Network Corp. has a 12-month low of $38.85 and a 12-month high of $64.58.
Dish Network Corp. (NASDAQ:DISH) last released its earnings results on Wednesday, November 9th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by $0.04. Dish Network Corp. had a net margin of 6.48% and a return on equity of 40.84%. The firm earned $3.75 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the business earned $0.42 earnings per share. Dish Network Corp.’s quarterly revenue was up .5% compared to the same quarter last year.
Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Dish Network Corp. by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 24,440,962 shares of the company’s stock valued at $1,338,875,000 after buying an additional 1,712,291 shares during the period. Vanguard Group Inc. boosted its position in Dish Network Corp. by 2.1% in the second quarter. Vanguard Group Inc. now owns 9,645,533 shares of the company’s stock valued at $505,426,000 after buying an additional 195,689 shares during the period. Franklin Resources Inc. boosted its position in Dish Network Corp. by 153,552.3% in the second quarter. Franklin Resources Inc. now owns 6,914,355 shares of the company’s stock valued at $362,313,000 after buying an additional 6,909,855 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Dish Network Corp. by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,502,783 shares of the company’s stock valued at $301,442,000 after buying an additional 72,880 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Dish Network Corp. by 9.5% in the second quarter. Ameriprise Financial Inc. now owns 3,174,834 shares of the company’s stock valued at $166,364,000 after buying an additional 276,410 shares during the period. Hedge funds and other institutional investors own 45.63% of the company’s stock.
In other news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $53.54, for a total transaction of $1,606,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 49.40% of the company’s stock.
About Dish Network Corp.
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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