Echostar (NASDAQ:SATS) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Echostar (NASDAQ:SATS) from a hold rating to a buy rating in a research report sent to investors on Tuesday, BidAskClub reports.

Several other brokerages have also weighed in on SATS. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. Daiwa Capital Markets lowered Baidu from a buy rating to a neutral rating in a report on Friday, May 17th. Finally, Raymond James set a C$0.50 price target on Obsidian Energy and gave the company a market perform rating in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $57.00.

Shares of NASDAQ SATS opened at $46.19 on Tuesday. Echostar has a 1-year low of $33.58 and a 1-year high of $49.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.73 and a quick ratio of 2.68. The stock has a fifty day moving average of $43.54. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 121.55 and a beta of 0.76.

Echostar (NASDAQ:SATS) last issued its earnings results on Wednesday, May 8th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Echostar had a positive return on equity of 0.87% and a negative net margin of 0.20%. The firm had revenue of $531.08 million for the quarter, compared to analyst estimates of $529.55 million. During the same period last year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Echostar will post 0.96 earnings per share for the current year.

In other news, CEO Michael T. Dugan sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $42.89, for a total transaction of $2,144,500.00. Following the transaction, the chief executive officer now directly owns 75,146 shares of the company’s stock, valued at $3,223,011.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 51.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of SATS. Park West Asset Management LLC acquired a new position in shares of Echostar during the fourth quarter valued at $38,556,000. Norges Bank acquired a new position in Echostar during the fourth quarter worth about $20,726,000. Ancora Advisors LLC acquired a new position in Echostar during the fourth quarter worth about $9,196,000. Barclays PLC grew its holdings in Echostar by 1,169.6% during the fourth quarter. Barclays PLC now owns 199,940 shares of the communications equipment provider’s stock worth $7,342,000 after acquiring an additional 184,192 shares during the period. Finally, Millennium Management LLC grew its holdings in Echostar by 25.3% during the fourth quarter. Millennium Management LLC now owns 828,151 shares of the communications equipment provider’s stock worth $30,410,000 after acquiring an additional 167,267 shares during the period. 47.48% of the stock is currently owned by institutional investors.

Echostar Company Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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