Morgan Stanley Has Lowered Expectations for Echostar (NASDAQ:ECHO) Stock Price

Echostar (NASDAQ:ECHO) had its price objective reduced by Morgan Stanley from $134.00 to $132.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley‘s price objective would indicate a potential upside of 33.39% from the company’s previous close.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Echostar in a report on Friday, October 16th. They set an “overweight” rating and a $144.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. UBS Group raised Echostar from a “neutral” rating to a “buy” rating and upped their target price for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a report on Friday, July 17th. Finally, Zacks Research raised Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Echostar presently has a consensus rating of “Buy” and an average target price of $138.33.

Echostar Stock Performance

NASDAQ ECHO traded down $2.98 on Wednesday, hitting $98.95. 3,102,493 shares of the stock were exchanged, compared to its average volume of 6,106,687. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar has a 52-week low of $65.76 and a 52-week high of $147.25. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of -3.99 and a beta of 1.06. The business has a fifty day moving average price of $91.51.

Echostar (NASDAQ:ECHO) last announced its earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating the consensus estimate of $3.07 by $4.90. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $3.00 million. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Sell-side analysts expect that Echostar will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Bye sold 8,508 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director owned 653 shares of the company’s stock, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Wade sold 2,425 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,508 shares of company stock valued at $1,224,686 in the last quarter. 54.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Echostar

Several institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama raised its position in shares of Echostar by 1.4% in the 3rd quarter. Retirement Systems of Alabama now owns 29,034 shares of the company’s stock worth $2,596,000 after acquiring an additional 405 shares in the last quarter. Fulcrum Asset Management LLP raised its holdings in Echostar by 217.4% in the third quarter. Fulcrum Asset Management LLP now owns 2,444 shares of the company’s stock worth $220,000 after purchasing an additional 1,674 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Echostar by 19.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,845 shares of the company’s stock worth $692,000 after purchasing an additional 1,293 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Echostar by 36.7% during the third quarter. Parallel Advisors LLC now owns 3,062 shares of the company’s stock valued at $274,000 after buying an additional 822 shares during the last quarter. Finally, ACR Alpine Capital Research LLC lifted its position in shares of Echostar by 21.2% during the third quarter. ACR Alpine Capital Research LLC now owns 80,058 shares of the company’s stock valued at $7,158,000 after buying an additional 14,008 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Echostar News Roundup

Here are the key news stories impacting Echostar this week:

• Positive Sentiment: SpaceX is reportedly exploring a purchase of Boost Mobile or access to EchoStar’s network. A deal could give SpaceX a faster route into U.S. wireless and provide EchoStar with a buyer or partner for Boost, though no agreement or terms have been announced. SpaceX Explores Boost Mobile Acquisition for US Wireless Push
• Positive Sentiment: EchoStar reported third-quarter EPS of $7.97, above the cited consensus estimate of $3.07, providing a headline earnings beat. EchoStar Reports Third-Quarter Results
• Neutral Sentiment: Reports say the potential wireless arrangement could combine satellite and 5G service, but its structure and value to EchoStar remain unclear. SpaceX Starlink’s Telecom Ground Game Takes Shape
• Negative Sentiment: The earnings picture was not uniformly strong: EchoStar had a negative net margin and negative return on equity. Uncertainty around the SpaceX discussions—including potential risks involving rival carriers’ network leases—may also temper enthusiasm while investors await specifics. SpaceX in Talks to Buy Boost Mobile or Access EchoStar’s Network

About Echostar

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.