Dish Network Corp. (DISH) Bonds Trading 1.1% Higher
An issue of Dish Network Corp. (NASDAQ:DISH) debt rose 1.1% against its face value during trading on Wednesday. The debt issue has a 5.875% coupon and will mature on November 15, 2024. The debt is now trading at $101.00 and was trading at $102.17 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
A number of research firms have recently issued reports on DISH. Wunderlich lowered Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 target price for the company. in a report on Friday, July 22nd. Pacific Crest restated a “hold” rating on shares of Dish Network Corp. in a report on Friday, July 22nd. Macquarie upgraded Dish Network Corp. from a “neutral” rating to an “outperform” rating and set a $62.00 target price for the company in a report on Tuesday, August 9th. Pivotal Research increased their target price on Dish Network Corp. from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, November 10th. Finally, Credit Suisse Group AG set a $57.00 target price on Dish Network Corp. and gave the company a “hold” rating in a report on Wednesday, July 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Dish Network Corp. has a consensus rating of “Hold” and a consensus price target of $66.74.
Shares of Dish Network Corp. (NASDAQ:DISH) opened at 55.66 on Friday. Dish Network Corp. has a 1-year low of $38.85 and a 1-year high of $64.44. The company has a market cap of $25.87 billion, a PE ratio of 29.73 and a beta of 1.05. The company has a 50 day moving average of $56.40 and a 200 day moving average of $52.35.
Dish Network Corp. (NASDAQ:DISH) last issued its quarterly 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 return on equity of 40.84% and a net margin of 6.48%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period last year, the firm earned $0.42 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts expect that Dish Network Corp. will post $3.01 earnings per share for the current fiscal year.
In other Dish Network Corp. news, insider Carl E. Vogel sold 30,000 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were 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 is available through the SEC website. Company insiders own 49.40% of the company’s stock.
A number of large investors have recently modified their holdings of DISH. Toronto Dominion Bank boosted its stake 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 stake 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 acquired a new stake in shares of Dish Network Corp. during the second quarter valued at approximately $126,000. Bessemer Group Inc. acquired a new stake in shares of Dish Network Corp. during the second quarter valued at approximately $128,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake 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. 45.63% of the stock is currently owned by hedge funds and other institutional investors.
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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