Zacks Investment Research downgraded shares of DISH Network (NASDAQ:DISH) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “DISH Network continues to lose subscribers due to stiff competition and cord-cutting. The company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 5.4% as against the industry's gain of 2.2%. On the flip side, we appreciate DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. Launch of a mobile app, DISH Music bode well. Moreover, DISH Network is looking for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion.”

Several other brokerages have also recently issued reports on DISH. Macquarie reissued a hold rating and set a $60.00 target price (down previously from $68.00) on shares of DISH Network in a report on Monday, October 2nd. Deutsche Bank restated a buy rating and set a $99.00 price target on shares of DISH Network in a research report on Thursday, October 5th. Moffett Nathanson restated a sell rating and set a $37.00 price target (down previously from $45.00) on shares of DISH Network in a research report on Tuesday, September 26th. Jefferies Group restated a buy rating and set a $80.00 price target on shares of DISH Network in a research report on Monday, September 25th. Finally, Citigroup upgraded shares of DISH Network from a sell rating to a neutral rating and set a $54.00 price target on the stock in a research report on Friday, September 15th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $63.92.

Shares of DISH Network (NASDAQ DISH) traded down $0.16 during trading on Tuesday, hitting $48.41. 2,130,900 shares of the company traded hands, compared to its average volume of 2,021,829. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 2.72. DISH Network has a 12-month low of $46.07 and a 12-month high of $66.50. The stock has a market capitalization of $22,530.00, a PE ratio of 22.83, a PEG ratio of 2.24 and a beta of 1.09.

DISH Network (NASDAQ:DISH) last issued its earnings results on Thursday, November 9th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). DISH Network had a return on equity of 25.97% and a net margin of 7.22%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. analysts predict that DISH Network will post 1.98 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sun Life Financial INC grew its position in shares of DISH Network by 20,725.0% in the second quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock valued at $105,000 after purchasing an additional 1,658 shares during the period. IHT Wealth Management LLC grew its position in shares of DISH Network by 32.2% in the second quarter. IHT Wealth Management LLC now owns 1,750 shares of the company’s stock valued at $1,593,000 after purchasing an additional 426 shares during the period. Rockefeller Financial Services Inc. acquired a new stake in shares of DISH Network in the third quarter valued at about $140,000. Quantbot Technologies LP acquired a new stake in shares of DISH Network in the third quarter valued at about $154,000. Finally, Huntington National Bank grew its position in shares of DISH Network by 47.1% in the third quarter. Huntington National Bank now owns 3,824 shares of the company’s stock valued at $207,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds own 48.54% of the company’s stock.

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About DISH Network

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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