EchoStar Corporation (NASDAQ:SATS) Receives $75.20 Consensus PT from Analysts

Shares of EchoStar Corporation (NASDAQ:SATS) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $75.20.

Several analysts recently weighed in on SATS shares. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a report on Tuesday, September 9th. TD Cowen lifted their target price on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a report on Friday. Cowen reiterated a “buy” rating on shares of EchoStar in a report on Wednesday, August 27th. Finally, Zacks Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO John Swieringa sold 154,835 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $81.20, for a total value of $12,572,602.00. Following the completion of the transaction, the chief operating officer owned 432 shares in the company, valued at $35,078.40. The trade was a 99.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Paul Gaske sold 45,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $80.25, for a total transaction of $3,611,250.00. Following the completion of the transaction, the chief operating officer owned 1,593 shares of the company’s stock, valued at approximately $127,838.25. This trade represents a 96.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 460,740 shares of company stock worth $35,967,480. 55.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EchoStar

Several institutional investors have recently modified their holdings of the business. Voya Investment Management LLC grew its stake in shares of EchoStar by 0.8% in the third quarter. Voya Investment Management LLC now owns 37,456 shares of the communications equipment provider’s stock worth $2,860,000 after acquiring an additional 298 shares in the last quarter. GAMMA Investing LLC raised its stake in EchoStar by 20.7% in the third quarter. GAMMA Investing LLC now owns 2,788 shares of the communications equipment provider’s stock valued at $213,000 after buying an additional 478 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in EchoStar by 16.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 746 shares in the last quarter. Farther Finance Advisors LLC raised its stake in EchoStar by 593.2% in the third quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider’s stock valued at $70,000 after buying an additional 789 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in EchoStar by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 15,055 shares of the communications equipment provider’s stock valued at $417,000 after buying an additional 910 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Up 1.5%

Shares of NASDAQ SATS opened at $74.12 on Wednesday. The company has a 50 day simple moving average of $66.89 and a 200-day simple moving average of $39.13. The company has a market capitalization of $21.33 billion, a P/E ratio of -70.59 and a beta of 0.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. EchoStar has a 1 year low of $14.90 and a 1 year high of $85.37.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter last year, the firm earned ($0.76) EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts predict that EchoStar will post -1.99 earnings per share for the current year.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.