Analysts Set EchoStar Co. (NASDAQ:SATS) PT at $23.00

EchoStar Co. (NASDAQ:SATS) has been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.00.

A number of equities analysts have recently weighed in on the company. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. Morgan Stanley boosted their target price on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Finally, TD Cowen decreased their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $26.04 on Friday. The business has a fifty day moving average price of $20.11 and a 200-day moving average price of $17.65. The company has a market capitalization of $7.07 billion, a PE ratio of -3.38 and a beta of 0.70. EchoStar has a 1-year low of $9.53 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the prior year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities analysts expect that EchoStar will post -1.81 EPS for the current fiscal year.

Hedge Funds Weigh In On EchoStar

Several hedge funds have recently bought and sold shares of SATS. Vanguard Group Inc. increased its position in EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after purchasing an additional 9,661,167 shares in the last quarter. Goldentree Asset Management LP increased its stake in shares of EchoStar by 20.4% in the first quarter. Goldentree Asset Management LP now owns 2,505,475 shares of the communications equipment provider’s stock valued at $35,703,000 after buying an additional 424,259 shares during the period. American Century Companies Inc. raised its holdings in EchoStar by 51.5% in the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock valued at $39,961,000 after buying an additional 762,462 shares during the last quarter. Pennant Select LLC bought a new position in shares of EchoStar during the fourth quarter valued at $36,892,000. Finally, Pennant Investors LP acquired a new position in EchoStar during the 4th quarter worth about $35,679,000. 33.62% of the stock is owned by institutional investors.

EchoStar Company Profile

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.