Dish Network Corp. (DISH) Bonds Rise 1% During Trading
An issue of Dish Network Corp. (NASDAQ:DISH) debt rose 1% as a percentage of its face value during trading on Tuesday. The debt issue has a 5.875% coupon and will mature on July 15, 2022. The debt is now trading at $103.50 and was trading at $102.50 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
DISH has been the topic of several recent research reports. Macquarie upped their price objective on Dish Network Corp. from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, October 7th. Zacks Investment Research lowered Dish Network Corp. from a “hold” rating to a “sell” rating in a research report on Friday, October 14th. Jefferies Group restated a “buy” rating and issued a $80.00 price objective on shares of Dish Network Corp. in a research report on Friday, August 26th. BTIG Research restated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Dish Network Corp. in a research report on Tuesday, November 22nd. Finally, FBR & Co increased their target price on Dish Network Corp. from $46.00 to $48.00 and gave the company an “underperform” rating in a research report on Friday, November 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.96.
Shares of Dish Network Corp. (NASDAQ:DISH) traded up 2.74% during trading on Tuesday, reaching $57.69. The company had a trading volume of 2,401,518 shares. The firm has a 50-day moving average of $56.51 and a 200 day moving average of $52.87. Dish Network Corp. has a 52 week low of $38.85 and a 52 week high of $63.80. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 27.48 and a beta of 1.05.
Dish Network Corp. (NASDAQ:DISH) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company earned $3.75 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Dish Network Corp. will post $3.01 earnings per share for the current year.
In other news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction 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 filing with the SEC, which is available through this link. 49.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. AT Bancorp acquired a new position in Dish Network Corp. during the third quarter valued at approximately $1,534,000. Oxford Asset Management raised its position in Dish Network Corp. by 12.2% in the second quarter. Oxford Asset Management now owns 245,914 shares of the company’s stock valued at $12,886,000 after buying an additional 26,763 shares during the last quarter. Trexquant Investment LP raised its position in Dish Network Corp. by 10.8% in the second quarter. Trexquant Investment LP now owns 41,200 shares of the company’s stock valued at $2,159,000 after buying an additional 4,000 shares during the last quarter. Smith Asset Management Group LP acquired a new position in Dish Network Corp. during the second quarter valued at approximately $44,367,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Dish Network Corp. during the second quarter valued at approximately $25,287,000. Hedge funds and other institutional investors own 48.27% of the company’s stock.
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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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