Echostar Co. (NASDAQ:SATS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Echostar Co. (NASDAQ:SATS) have been assigned a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $52.50.

A number of brokerages recently commented on SATS. BidaskClub cut shares of Echostar from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Zacks Investment Research raised shares of Echostar from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 9th. ValuEngine lowered shares of Echostar from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Raymond James reaffirmed a “strong-buy” rating and set a $61.00 price objective (down from $68.00) on shares of Echostar in a research note on Wednesday, September 11th. Finally, Citigroup downgraded Echostar from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $44.00 in a report on Friday, October 4th.

Shares of NASDAQ SATS opened at $40.03 on Friday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 105.34 and a beta of 0.80. Echostar has a one year low of $27.29 and a one year high of $43.04. The firm’s 50 day simple moving average is $40.09 and its two-hundred day simple moving average is $41.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.35 and a quick ratio of 6.17.

Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.20. Echostar had a negative net margin of 5.86% and a negative return on equity of 0.31%. The firm had revenue of $472.26 million during the quarter, compared to analyst estimates of $470.15 million. During the same period in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Echostar will post -0.79 earnings per share for the current fiscal year.

In other news, insider Pradman P. Kaul sold 1,321 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.27, for a total value of $55,838.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael T. Dugan sold 22,348 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $41.53, for a total transaction of $928,112.44. Following the completion of the transaction, the chief executive officer now owns 73,787 shares in the company, valued at approximately $3,064,374.11. The disclosure for this sale can be found here. 52.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of SATS. Nuveen Asset Management LLC purchased a new stake in Echostar during the 2nd quarter valued at $14,790,000. Renaissance Technologies LLC grew its holdings in Echostar by 8.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock worth $157,406,000 after acquiring an additional 270,500 shares during the last quarter. Clearline Capital LP purchased a new position in shares of Echostar in the second quarter valued at about $11,478,000. Millennium Management LLC increased its position in shares of Echostar by 1,583.8% in the third quarter. Millennium Management LLC now owns 273,834 shares of the communications equipment provider’s stock valued at $10,849,000 after acquiring an additional 257,571 shares during the period. Finally, Park West Asset Management LLC raised its stake in shares of Echostar by 23.8% during the second quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock valued at $43,064,000 after acquiring an additional 186,615 shares during the last quarter. Institutional investors own 46.35% of the company’s stock.

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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