EchoStar Corporation (SATS) Announces Earnings Results, Beats Estimates By $0.37 EPS
EchoStar Corporation (NASDAQ:SATS) issued its quarterly earnings results on Wednesday. The communications equipment provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.37, Briefing.com reports. The firm had revenue of $481.20 million during the quarter, compared to the consensus estimate of $477.33 million. EchoStar Corporation had a return on equity of 2.85% and a net margin of 5.55%. EchoStar Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share.
EchoStar Corporation (SATS) opened at $54.77 on Friday. The company has a current ratio of 9.11, a quick ratio of 8.88 and a debt-to-equity ratio of 0.94. EchoStar Corporation has a 1-year low of $48.19 and a 1-year high of $62.50. The company has a market capitalization of $5,447.15, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 4.08 and a beta of 0.76.
A number of research analysts recently commented on the company. TheStreet downgraded EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Jefferies Group LLC began coverage on EchoStar Corporation in a report on Friday, September 8th. They issued a “hold” rating and a $65.00 price target for the company. Finally, Zacks Investment Research raised EchoStar Corporation from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $63.75.
In other news, insider Anders N. Johnson sold 7,128 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Rayner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The disclosure for this sale can be found here. Company insiders own 73.54% of the company’s stock.
A hedge fund recently raised its stake in EchoStar Corporation stock. The Manufacturers Life Insurance Company lifted its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,909 shares of the communications equipment provider’s stock after purchasing an additional 207 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in EchoStar Corporation were worth $177,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 44.94% of the company’s stock.
About EchoStar Corporation
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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