EchoStar (NASDAQ:SATS) Trading Down 4.4%

EchoStar Co. (NASDAQ:SATS) shares were down 4.4% during trading on Monday . The stock traded as low as $21.33 and last traded at $21.41. Approximately 719,158 shares traded hands during trading, a decline of 59% from the average daily volume of 1,771,501 shares. The stock had previously closed at $22.40.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. UBS Group lifted their price objective on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen cut their price objective on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, StockNews.com raised shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

EchoStar Trading Down 4.2 %

The company has a market cap of $5.83 billion, a price-to-earnings ratio of -2.91 and a beta of 0.70. The business has a fifty day simple moving average of $18.96 and a 200 day simple moving average of $16.87. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter last year, the business earned $0.39 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that EchoStar Co. will post -1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in EchoStar by 103.1% during the fourth quarter. New York State Common Retirement Fund now owns 49,120 shares of the communications equipment provider’s stock worth $814,000 after purchasing an additional 24,933 shares in the last quarter. Russell Investments Group Ltd. grew its stake in EchoStar by 25,776.4% in the 4th quarter. Russell Investments Group Ltd. now owns 18,631 shares of the communications equipment provider’s stock valued at $309,000 after acquiring an additional 18,559 shares during the last quarter. Amalgamated Bank increased its holdings in EchoStar by 1,034.1% during the 4th quarter. Amalgamated Bank now owns 37,356 shares of the communications equipment provider’s stock valued at $619,000 after acquiring an additional 34,062 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in EchoStar during the fourth quarter worth about $195,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of EchoStar by 53.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,095,327 shares of the communications equipment provider’s stock valued at $18,150,000 after purchasing an additional 383,030 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

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.