According to Zacks, “EchoStar is a global provider of satellite service operations, video delivery services, broadband satellite technologies and broadband internet services for home and small office customers. They also deliver innovative network technologies, managed services, and various communications solutions for aeronautical, enterprise and government customers. “
Several other equities analysts have also weighed in on SATS. Raymond James dropped their price objective on shares of Echostar from $67.00 to $62.00 and set a strong-buy rating on the stock in a report on Tuesday, May 21st. Daiwa Capital Markets lowered shares of Echostar from an outperform rating to a neutral rating in a report on Friday, May 17th. Finally, BidaskClub lowered shares of Echostar from a buy rating to a hold rating in a report on Saturday, July 27th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $55.00.
Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. The company had revenue of $537.12 million for the quarter, compared to analyst estimates of $538.80 million. During the same quarter in the prior year, the company posted $0.80 EPS. Echostar’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Echostar will post 1.01 earnings per share for the current fiscal year.
In related news, CEO Michael T. Dugan sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $42.89, for a total value of $2,144,500.00. Following the sale, the chief executive officer now owns 75,146 shares in the company, valued at approximately $3,223,011.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 51.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SATS. Bank of America Corp DE boosted its position in Echostar by 28.1% in the 4th quarter. Bank of America Corp DE now owns 204,773 shares of the communications equipment provider’s stock valued at $7,519,000 after buying an additional 44,889 shares during the last quarter. Legal & General Group Plc boosted its position in Echostar by 2.5% in the 4th quarter. Legal & General Group Plc now owns 38,178 shares of the communications equipment provider’s stock valued at $1,402,000 after buying an additional 942 shares during the last quarter. Macquarie Group Ltd. boosted its position in Echostar by 600.0% in the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 600 shares during the last quarter. FMR LLC boosted its position in Echostar by 71.5% in the 4th quarter. FMR LLC now owns 81,430 shares of the communications equipment provider’s stock valued at $2,990,000 after buying an additional 33,957 shares during the last quarter. Finally, Norges Bank bought a new position in Echostar in the 4th quarter valued at $20,726,000. Institutional investors own 46.87% of the company’s stock.
EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.
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