DISH Network Corporation (DISH) Stock Rating Reaffirmed by Morgan Stanley
DISH Network Corporation (NASDAQ:DISH)‘s stock had its “buy” rating restated by investment analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $75.00 target price on the stock. Morgan Stanley’s price objective indicates a potential upside of 52.97% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of DISH Network Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Telsey Advisory Group cut their price objective on shares of DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, August 4th. Guggenheim reaffirmed a “neutral” rating and issued a $62.00 price objective (down previously from $68.00) on shares of DISH Network Corporation in a report on Thursday, August 24th. Citigroup Inc. raised shares of DISH Network Corporation from a “sell” rating to a “neutral” rating and set a $54.00 price objective for the company in a report on Friday, September 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $88.50 price objective on shares of DISH Network Corporation in a report on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.38.
Shares of DISH Network Corporation (NASDAQ DISH) traded down 0.14% during midday trading on Tuesday, hitting $48.96. 902,757 shares of the stock were exchanged. DISH Network Corporation has a 12 month low of $47.48 and a 12 month high of $66.50. The firm’s 50-day moving average is $54.01 and its 200-day moving average is $60.48. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 22.77 and a beta of 0.99.
DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.67). DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the business earned $0.88 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts predict that DISH Network Corporation will post $2.15 earnings per share for the current year.
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In related news, EVP Jeffrey L. Mcschooler sold 785 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.61, for a total transaction of $44,438.85. Following the sale, the executive vice president now directly owns 165 shares of the company’s stock, valued at approximately $9,340.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.73, for a total transaction of $1,493,250.00. The disclosure for this sale can be found here. Insiders sold a total of 26,110 shares of company stock worth $1,555,296 over the last three months. Insiders own 49.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Honkamp Krueger Financial Services Inc. increased its stake in DISH Network Corporation by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 12,835 shares of the company’s stock worth $806,000 after buying an additional 48 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in DISH Network Corporation by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,900 shares of the company’s stock worth $1,061,000 after buying an additional 68 shares during the period. Private Capital Advisors Inc. increased its stake in DISH Network Corporation by 0.7% during the 2nd quarter. Private Capital Advisors Inc. now owns 10,772 shares of the company’s stock worth $676,000 after buying an additional 72 shares during the period. TRUE Private Wealth Advisors increased its stake in DISH Network Corporation by 0.9% during the 2nd quarter. TRUE Private Wealth Advisors now owns 7,899 shares of the company’s stock worth $495,000 after buying an additional 74 shares during the period. Finally, Paradigm Asset Management Co. LLC increased its stake in DISH Network Corporation by 4.2% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock worth $157,000 after buying an additional 100 shares during the period. 48.92% of the stock is currently owned by hedge funds and other institutional investors.
About DISH Network Corporation
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, 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 and Fixed Satellite Service 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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