EchoStar Co. (NASDAQ:SATS) Receives Average Recommendation of “Hold” from Brokerages

Shares of EchoStar Co. (NASDAQ:SATS) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.00.

Several research firms have weighed in on SATS. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. StockNews.com upgraded EchoStar to a “sell” rating in a report on Tuesday, July 30th. TD Cowen cut their price target on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, UBS Group raised their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th.

Hedge Funds Weigh In On EchoStar

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning boosted its holdings in EchoStar by 42.1% during the 3rd quarter. Creative Planning now owns 35,395 shares of the communications equipment provider’s stock valued at $878,000 after acquiring an additional 10,491 shares during the period. GAMMA Investing LLC boosted its holdings in EchoStar by 54.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 789 shares during the period. Handelsbanken Fonder AB boosted its holdings in EchoStar by 71.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 35,542 shares of the communications equipment provider’s stock valued at $882,000 after acquiring an additional 14,800 shares during the period. SG Americas Securities LLC purchased a new position in EchoStar during the 3rd quarter valued at $165,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in EchoStar during the 2nd quarter valued at $89,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Up 0.8 %

Shares of SATS opened at $25.16 on Tuesday. The business’s 50 day moving average is $21.86 and its 200 day moving average is $18.91. The company has a market capitalization of $6.84 billion, a PE ratio of -2.93 and a beta of 0.71. EchoStar has a 12-month low of $9.53 and a 12-month high of $30.08. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00.

EchoStar (NASDAQ:SATS) 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). The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. Research analysts expect that EchoStar will post -1.73 earnings per share for the current fiscal year.

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.