EchoStar (NASDAQ:SATS) Trading Down 2.7% – What’s Next?

EchoStar Co. (NASDAQ:SATSGet Free Report) shares dropped 2.7% on Friday . The stock traded as low as $24.77 and last traded at $24.80. Approximately 544,407 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,818,463 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

SATS has been the topic of several recent analyst reports. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Tuesday, July 30th. TD Cowen reduced their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. Morgan Stanley increased their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Finally, UBS Group increased their target price on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.00.

Get Our Latest Research Report on EchoStar

EchoStar Trading Down 3.4 %

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The company’s fifty day simple moving average is $21.60 and its 200-day simple moving average is $18.68. The company has a market capitalization of $6.69 billion, a P/E ratio of -2.87 and a beta of 0.71.

EchoStar (NASDAQ:SATSGet Free Report) last issued its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s revenue was down 9.3% on a year-over-year basis. Research analysts predict that EchoStar Co. will post -1.73 earnings per share for the current year.

Institutional Trading of EchoStar

A number of institutional investors have recently modified their holdings of SATS. Clear Street Markets LLC bought a new stake in shares of EchoStar in the 4th quarter valued at about $198,000. Quarry LP bought a new stake in shares of EchoStar in the 4th quarter valued at about $41,000. First Hawaiian Bank bought a new stake in shares of EchoStar in the 1st quarter valued at about $197,000. Alaska Permanent Fund Corp bought a new stake in shares of EchoStar in the 1st quarter valued at about $585,000. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of EchoStar by 17.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 28,924 shares of the communications equipment provider’s stock valued at $412,000 after buying an additional 4,379 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Company Profile

(Get Free Report)

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.

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