DISH Network (NASDAQ:DISH) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of DISH Network (NASDAQ:DISH) from a hold rating to a sell rating in a research note published on Saturday morning, BidAskClub reports.

Several other equities analysts also recently commented on the stock. Barclays downgraded shares of DISH Network from an equal weight rating to an underweight rating and set a $31.00 price target on the stock. in a research note on Monday, July 29th. Moffett Nathanson downgraded shares of DISH Network from a neutral rating to a sell rating and set a $30.00 price target on the stock. in a research note on Thursday, July 25th. ValuEngine upgraded shares of DISH Network from a strong sell rating to a sell rating in a research note on Wednesday. Citigroup decreased their price target on shares of DISH Network from $42.00 to $40.00 and set a buy rating on the stock in a research note on Friday. Finally, Raymond James upgraded shares of DISH Network from a market perform rating to a strong-buy rating and set a $44.00 price target on the stock in a research note on Monday, August 26th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $35.69.

Shares of DISH traded up $0.11 during trading hours on Friday, hitting $33.09. The company had a trading volume of 923,610 shares, compared to its average volume of 2,691,540. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 11.03 and a beta of 1.40. The business has a fifty day moving average of $33.87 and a 200-day moving average of $35.32. DISH Network has a 12 month low of $23.22 and a 12 month high of $44.65. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.42.

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

In other news, insider James Defranco acquired 300,000 shares of DISH Network stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $31.18 per share, for a total transaction of $9,354,000.00. Following the completion of the purchase, the insider now directly owns 1,528,529 shares of the company’s stock, valued at approximately $47,659,534.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Charles W. Ergen acquired 100,000 shares of DISH Network stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $30.94 per share, for a total transaction of $3,094,000.00. Following the completion of the purchase, the chairman now directly owns 1,656,075 shares of the company’s stock, valued at $51,238,960.50. The disclosure for this purchase can be found here. Insiders have acquired 700,005 shares of company stock worth $21,958,159 over the last quarter. Corporate insiders own 52.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in DISH. First Trust Advisors LP grew its stake in DISH Network by 12.1% during the first quarter. First Trust Advisors LP now owns 310,238 shares of the company’s stock worth $9,831,000 after buying an additional 33,489 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in DISH Network by 35.3% during the first quarter. Parametric Portfolio Associates LLC now owns 516,847 shares of the company’s stock worth $16,379,000 after buying an additional 134,869 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in DISH Network by 1.1% during the first quarter. Pictet Asset Management Ltd. now owns 109,377 shares of the company’s stock worth $3,466,000 after buying an additional 1,200 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in DISH Network by 135.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 34,796 shares of the company’s stock worth $1,265,000 after buying an additional 20,021 shares in the last quarter. Finally, Swiss National Bank grew its stake in DISH Network by 2.6% during the first quarter. Swiss National Bank now owns 763,809 shares of the company’s stock worth $24,205,000 after buying an additional 19,700 shares in the last quarter. Hedge funds and other institutional investors own 48.04% of the company’s stock.

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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Analyst Recommendations for DISH Network (NASDAQ:DISH)

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