EchoStar Corp.’s (SATS) “Positive” Rating Reiterated at Macquarie
EchoStar Corp. (NASDAQ:SATS)‘s stock had its “positive” rating reaffirmed by investment analysts at Macquarie in a research note issued on Friday.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded EchoStar Corp. from a “strong sell” rating to a “hold” rating in a research report on Saturday, September 3rd. TheStreet upgraded EchoStar Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Finally, Citigroup Inc. increased their target price on EchoStar Corp. from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th.
EchoStar Corp. (NASDAQ:SATS) traded up 0.12% on Friday, hitting $50.49. The stock had a trading volume of 12,527 shares. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 22.65 and a beta of 0.84. The stock’s 50 day moving average is $47.32 and its 200 day moving average is $41.47. EchoStar Corp. has a one year low of $30.86 and a one year high of $50.77.
EchoStar Corp. (NASDAQ:SATS) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $742 million for the quarter, compared to analyst estimates of $735.61 million. EchoStar Corp. had a return on equity of 5.28% and a net margin of 6.60%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. Analysts anticipate that EchoStar Corp. will post $1.85 earnings per share for the current year.
In other news, EVP Kranti Kilaru sold 69,202 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $50.02, for a total value of $3,461,484.04. Following the transaction, the executive vice president now directly owns 5,423 shares in the company, valued at approximately $271,258.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 61.04% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Quaker Capital Investments LLC increased 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 during the last quarter. Vanguard Group Inc. increased 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 during the last quarter. Mangrove Partners increased 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 during the last quarter. UBS Oconnor LLC bought a new stake in shares of EchoStar Corp. during the third quarter valued at approximately $5,011,000. Finally, Pagoda Asset Management LP increased 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 during the last quarter. Institutional investors own 43.41% of the company’s stock.
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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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