DISH Network (NASDAQ:DISH) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of DISH Network (NASDAQ:DISH) from a strong sell rating to a sell rating in a report issued on Wednesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Moffett Nathanson downgraded DISH Network from a neutral rating to a sell rating and set a $30.00 target price on the stock. in a research report on Thursday, July 25th. Raymond James upgraded DISH Network from a market perform rating to a strong-buy rating and set a $44.00 target price on the stock in a research report on Monday, August 26th. Barclays downgraded DISH Network from an equal weight rating to an underweight rating and set a $31.00 target price on the stock. in a research report on Monday, July 29th. Finally, BidaskClub upgraded DISH Network from a hold rating to a buy rating in a research report on Wednesday, September 11th. Seven research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. DISH Network presently has a consensus rating of Hold and a consensus target price of $35.69.

DISH stock traded up $0.11 during mid-day trading on Wednesday, reaching $33.09. 923,610 shares of the company’s stock were exchanged, compared to its average volume of 2,798,888. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 11.03 and a beta of 1.40. The stock’s 50 day moving average is $33.87 and its 200 day moving average is $35.32. DISH Network has a 12-month low of $23.22 and a 12-month high of $44.65. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.63 and a quick ratio of 0.58.

DISH Network (NASDAQ:DISH) last released its earnings results on Monday, July 29th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.05). The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 EPS. On average, research analysts forecast that DISH Network will post 2.44 earnings per share for the current fiscal year.

In related news, Chairman Charles W. Ergen purchased 300,005 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $31.70 per share, with a total value of $9,510,158.50. Following the completion of the acquisition, the chairman now owns 1,656,075 shares in the company, valued at $52,497,577.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Defranco purchased 300,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $31.18 per share, with a total value of $9,354,000.00. Following the acquisition, the insider now owns 1,528,529 shares of the company’s stock, valued at approximately $47,659,534.22. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 700,005 shares of company stock valued at $21,958,159. Insiders own 52.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in DISH Network by 1.1% during the second quarter. Vanguard Group Inc. now owns 23,719,762 shares of the company’s stock worth $911,075,000 after acquiring an additional 254,456 shares during the last quarter. Key Square Capital Management LLC increased its stake in DISH Network by 0.9% during the first quarter. Key Square Capital Management LLC now owns 3,011,419 shares of the company’s stock worth $95,432,000 after acquiring an additional 27,623 shares during the last quarter. Northern Trust Corp increased its stake in DISH Network by 2.1% during the second quarter. Northern Trust Corp now owns 2,711,365 shares of the company’s stock worth $104,143,000 after acquiring an additional 56,219 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in DISH Network by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,907,542 shares of the company’s stock worth $73,269,000 after acquiring an additional 73,289 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in DISH Network by 78.0% during the second quarter. Renaissance Technologies LLC now owns 1,676,400 shares of the company’s stock worth $64,391,000 after acquiring an additional 734,500 shares during the last quarter. 48.04% of the stock is owned by institutional investors.

DISH Network Company Profile

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

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