Jefferies Group LLC initiated coverage on shares of EchoStar Corporation (NASDAQ:SATS) in a research note published on Friday morning, Marketbeat.com reports. The firm issued a hold rating and a $65.00 target price on the communications equipment provider’s stock.

A number of other equities research analysts have also weighed in on the company. TheStreet lowered EchoStar Corporation from a b- rating to a c+ rating in a research note on Monday, August 21st. BidaskClub lowered EchoStar Corporation from a buy rating to a hold rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research upgraded EchoStar Corporation from a sell rating to a hold rating in a research note on Saturday, May 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $63.00.

EchoStar Corporation (SATS) opened at 56.25 on Friday. EchoStar Corporation has a 52 week low of $38.18 and a 52 week high of $62.50. The company has a market cap of $5.38 billion, a PE ratio of 44.68 and a beta of 0.72. The stock has a 50 day moving average of $58.92 and a 200 day moving average of $58.19.

EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.05. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business had revenue of $465.08 million for the quarter, compared to analysts’ expectations of $455.25 million. During the same quarter in the previous year, the firm posted $0.47 EPS. EchoStar Corporation’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that EchoStar Corporation will post $0.66 EPS for the current fiscal year.

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In related news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total value of $418,556.16. Following the sale, the insider now owns 2,000 shares in the company, valued at $117,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael T. Dugan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $62.24, for a total value of $311,200.00. Following the completion of the sale, the chief executive officer now owns 30,146 shares in the company, valued at approximately $1,876,287.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,128 shares of company stock worth $1,022,256. 73.54% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in EchoStar Corporation in the second quarter valued at approximately $306,000. Public Employees Retirement System of Ohio boosted its position in EchoStar Corporation by 19.4% in the second quarter. Public Employees Retirement System of Ohio now owns 17,996 shares of the communications equipment provider’s stock valued at $1,092,000 after buying an additional 2,925 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in EchoStar Corporation by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 207 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in EchoStar Corporation by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock valued at $208,000 after buying an additional 2,732 shares during the last quarter. Finally, State Street Corp boosted its position in EchoStar Corporation by 2.7% in the second quarter. State Street Corp now owns 693,263 shares of the communications equipment provider’s stock valued at $42,081,000 after buying an additional 18,468 shares during the last quarter. Hedge funds and other institutional investors own 45.04% of the company’s stock.

EchoStar Corporation Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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