EchoStar Corporation (NASDAQ:SATS) issued its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.05, Bloomberg Earnings reports. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 5.1% on a year-over-year basis.
EchoStar Corporation (NASDAQ:SATS) traded down 1.20% during trading on Friday, reaching $56.94. 80,453 shares of the company were exchanged. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 45.23 and a beta of 0.70. The firm’s 50 day moving average price is $59.83 and its 200-day moving average price is $57.73. EchoStar Corporation has a one year low of $37.30 and a one year high of $62.50.
In related news, insider Pradman P. Kaul sold 14,999 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $58.25, for a total transaction of $873,691.75. Following the transaction, the insider now directly owns 4,999 shares of the company’s stock, valued at approximately $291,191.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael T. Dugan sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $60.58, for a total value of $605,800.00. Following the transaction, the chief executive officer now directly owns 52,092 shares in the company, valued at $3,155,733.36. The disclosure for this sale can be found here. Insiders sold a total of 56,946 shares of company stock worth $3,429,331 in the last ninety days. 73.54% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SATS. FNY Partners Fund LP bought a new stake in EchoStar Corporation during the first quarter valued at approximately $142,000. James Investment Research Inc. acquired a new position in shares of EchoStar Corporation during the first quarter worth about $145,000. The Manufacturers Life Insurance Company increased its position in shares of EchoStar Corporation by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after buying an additional 207 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of EchoStar Corporation by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after buying an additional 2,732 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of EchoStar Corporation during the first quarter worth about $210,000. 44.78% of the stock is currently owned by hedge funds and other institutional investors.
SATS has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. EchoStar Corporation currently has a consensus rating of “Buy” and an average price target of $62.33.
About EchoStar Corporation
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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