EchoStar Co. (NASDAQ:SATS) Receives $23.00 Consensus Price Target from Brokerages

EchoStar Co. (NASDAQ:SATS) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.00.

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. TD Cowen cut their price target on EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, March 4th. StockNews.com upgraded EchoStar to a “sell” rating in a research note on Tuesday, May 28th. Finally, UBS Group raised their target price on EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Bay Advisors LLC lifted its position in EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 1,469 shares during the last quarter. Quarry LP purchased a new stake in shares of EchoStar during the 4th quarter valued at $41,000. Quest Partners LLC bought a new stake in shares of EchoStar during the 4th quarter worth $42,000. Central Pacific Bank Trust Division purchased a new position in EchoStar in the first quarter worth $67,000. Finally, New York State Teachers Retirement System bought a new position in EchoStar in the fourth quarter valued at $126,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

NASDAQ SATS opened at $17.44 on Wednesday. The company has a 50-day simple moving average of $16.77 and a 200 day simple moving average of $14.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.35 and a current ratio of 0.44. EchoStar has a 52-week low of $9.53 and a 52-week high of $24.80. The company has a market capitalization of $4.74 billion, a PE ratio of -2.26 and a beta of 0.72.

EchoStar (NASDAQ:SATS) last released its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23). EchoStar had a positive return on equity of 2.26% and a negative net margin of 23.47%. The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that EchoStar will post -1.5 EPS for the current year.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.