Echostar (NASDAQ:SATS) Receives “Strong-Buy” Rating from Raymond James

Raymond James reaffirmed their strong-buy rating on shares of Echostar (NASDAQ:SATS) in a research report released on Wednesday, The Fly reports. They currently have a $61.00 price target on the communications equipment provider’s stock, down from their prior price target of $68.00.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Echostar from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Tuesday, August 13th. BidaskClub upgraded shares of Echostar from a hold rating to a buy rating in a research note on Wednesday, September 4th. Finally, Daiwa Capital Markets lowered shares of Echostar from an outperform rating to a neutral rating in a research note on Friday, May 17th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $54.67.

SATS traded up $1.52 during mid-day trading on Wednesday, reaching $39.87. 550,100 shares of the company traded hands, compared to its average volume of 414,045. The stock has a market capitalization of $4.30 billion, a P/E ratio of 104.63 and a beta of 0.79. The company has a quick ratio of 5.94, a current ratio of 6.10 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $42.18 and its 200-day moving average price is $41.25. Echostar has a 52-week low of $33.58 and a 52-week high of $48.86.



Echostar (NASDAQ:SATS) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The company had revenue of $537.12 million for the quarter, compared to analysts’ expectations of $538.80 million. Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. Echostar’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. As a group, sell-side analysts forecast that Echostar will post 1.01 earnings per share for the current fiscal year.

In other Echostar news, CEO Michael T. Dugan sold 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 52.00% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. increased its stake in shares of Echostar by 0.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,519,961 shares of the communications equipment provider’s stock worth $244,645,000 after purchasing an additional 19,081 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Echostar by 8.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock worth $157,406,000 after purchasing an additional 270,500 shares in the last quarter. Park West Asset Management LLC increased its stake in shares of Echostar by 23.8% in the 2nd quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock worth $43,064,000 after purchasing an additional 186,615 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Echostar by 4.9% in the 1st quarter. First Trust Advisors LP now owns 964,768 shares of the communications equipment provider’s stock worth $35,166,000 after purchasing an additional 45,077 shares in the last quarter. Finally, Indaba Capital Management L.P. increased its stake in shares of Echostar by 10.7% in the 2nd quarter. Indaba Capital Management L.P. now owns 751,925 shares of the communications equipment provider’s stock worth $33,325,000 after purchasing an additional 72,806 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company’s stock.

About Echostar

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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