According to Zacks, “EchoStar is a global provider of satellite service operations, video delivery services, broadband satellite technologies and broadband internet services for home and small office customers. They also deliver innovative network technologies, managed services, and various communications solutions for aeronautical, enterprise and government customers. “
A number of other equities research analysts also recently weighed in on SATS. Citigroup downgraded Echostar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $44.00 in a research report on Friday, October 4th. BidaskClub raised Echostar from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. ValuEngine downgraded Echostar from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $61.00 price objective (down previously from $68.00) on shares of Echostar in a research report on Wednesday, September 11th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $49.67.
Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.20. Echostar had a positive return on equity of 0.46% and a negative net margin of 4.09%. The business had revenue of $472.26 million for the quarter, compared to the consensus estimate of $470.15 million. During the same quarter in the prior year, the company earned $0.17 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Echostar will post -0.47 EPS for the current year.
In related news, CEO Michael T. Dugan sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 52.00% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Great Lakes Advisors LLC raised its stake in Echostar by 3.8% in the third quarter. Great Lakes Advisors LLC now owns 8,114 shares of the communications equipment provider’s stock valued at $321,000 after buying an additional 297 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Echostar by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 5,537,535 shares of the communications equipment provider’s stock valued at $219,397,000 after purchasing an additional 17,574 shares during the period. Montag A & Associates Inc. acquired a new stake in Echostar in the third quarter valued at approximately $2,026,000. Gabelli Funds LLC grew its holdings in Echostar by 2.0% in the third quarter. Gabelli Funds LLC now owns 783,933 shares of the communications equipment provider’s stock valued at $31,059,000 after purchasing an additional 15,000 shares during the period. Finally, BW Gestao de Investimentos Ltda. grew its holdings in Echostar by 21.8% in the third quarter. BW Gestao de Investimentos Ltda. now owns 24,016 shares of the communications equipment provider’s stock valued at $952,000 after purchasing an additional 4,306 shares during the period. 44.84% of the stock is currently owned by institutional investors.
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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