EchoStar Corporation (NASDAQ:SATS) Receives $137.14 Consensus Target Price from Brokerages

Shares of EchoStar Corporation (NASDAQ:SATS) have received an average recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a 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 $137.1429.

SATS has been the subject of several recent research reports. TD Cowen boosted their price target on EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a report on Monday, May 18th. New Street Research initiated coverage on EchoStar in a report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group upped their price objective on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd.

EchoStar Stock Performance

NASDAQ:SATS opened at $116.62 on Thursday. The stock has a 50-day simple moving average of $125.82 and a two-hundred day simple moving average of $113.43. EchoStar has a 52-week low of $14.90 and a 52-week high of $147.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. The firm has a market capitalization of $33.80 billion, a PE ratio of -2.33 and a beta of 0.95.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted ($0.71) EPS. Analysts forecast that EchoStar will post -3.79 EPS for the current year.

Hedge Funds Weigh In On EchoStar

A number of hedge funds have recently made changes to their positions in SATS. AQR Capital Management LLC boosted its stake in shares of EchoStar by 6.0% in the first quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock worth $672,000 after acquiring an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of EchoStar by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock worth $1,854,000 after acquiring an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of EchoStar by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock worth $8,479,000 after acquiring an additional 24,749 shares during the period. Strs Ohio bought a new position in shares of EchoStar in the first quarter worth about $128,000. Finally, Hsbc Holdings PLC boosted its stake in shares of EchoStar by 18.6% in the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider’s stock worth $377,000 after acquiring an additional 2,119 shares during the period. Institutional investors own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.