Zacks Investment Research Downgrades DISH Network (DISH) to Sell

Zacks Investment Research cut shares of DISH Network (NASDAQ:DISH) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “DISH Network continues to lose subscribers due to stiff competition and cord-cutting. The company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 5.4% as against the industry's gain of 2.2%. On the flip side, we appreciate DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. Launch of a mobile app, DISH Music bode well. Moreover, DISH Network is looking for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion.”

A number of other brokerages have also recently weighed in on DISH. Morgan Stanley restated a buy rating and set a $75.00 price objective on shares of DISH Network in a research note on Tuesday, October 17th. Citigroup upgraded DISH Network from a sell rating to a neutral rating and set a $54.00 price objective for the company in a research note on Friday, September 15th. Moffett Nathanson restated a sell rating and set a $37.00 price objective (down from $45.00) on shares of DISH Network in a research note on Tuesday, September 26th. UBS Group decreased their price objective on DISH Network from $68.00 to $56.00 and set a neutral rating for the company in a research note on Friday, November 10th. Finally, SunTrust Banks restated a hold rating and set a $60.00 price objective on shares of DISH Network in a research note on Friday, November 10th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. DISH Network has an average rating of Hold and a consensus target price of $63.92.

Shares of DISH Network (DISH) traded up $0.23 during midday trading on Tuesday, hitting $49.48. The company had a trading volume of 1,460,000 shares, compared to its average volume of 2,100,000. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 2.72. The stock has a market cap of $23,080.00, a PE ratio of 23.34, a P/E/G ratio of 2.24 and a beta of 1.09. DISH Network has a 1 year low of $46.07 and a 1 year high of $66.50.

DISH Network (NASDAQ:DISH) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.03). The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.60 billion. DISH Network had a return on equity of 25.97% and a net margin of 7.22%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. analysts predict that DISH Network will post 1.98 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in DISH Network by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,900 shares of the company’s stock valued at $1,061,000 after buying an additional 68 shares in the last quarter. Nordea Investment Management AB increased its position in DISH Network by 0.9% during the 2nd quarter. Nordea Investment Management AB now owns 11,121 shares of the company’s stock valued at $698,000 after buying an additional 101 shares in the last quarter. Veritable L.P. increased its position in DISH Network by 2.3% during the 2nd quarter. Veritable L.P. now owns 6,182 shares of the company’s stock valued at $388,000 after buying an additional 137 shares in the last quarter. Mutual of America Capital Management LLC increased its position in DISH Network by 0.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 27,601 shares of the company’s stock valued at $1,732,000 after buying an additional 147 shares in the last quarter. Finally, Sentry Investment Management LLC increased its holdings in shares of DISH Network by 1.1% in the second quarter. Sentry Investment Management LLC now owns 17,877 shares of the company’s stock valued at $1,122,000 after purchasing an additional 187 shares during the period. 48.54% of the stock is currently owned by institutional investors.

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About DISH Network

DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.

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