EchoStar (NASDAQ:SATS) Upgraded to “Sell” at StockNews.com

EchoStar (NASDAQ:SATS) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued on Tuesday.

Other research analysts have also recently issued research reports about the company. TD Cowen dropped their price target on EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Morgan Stanley decreased their target price on EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group increased their price objective on EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.00.

EchoStar Trading Up 1.4 %

NASDAQ SATS opened at $18.39 on Tuesday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of -2.39 and a beta of 0.71. EchoStar has a 52 week low of $9.53 and a 52 week high of $24.80. The business has a 50 day moving average price of $17.59 and a 200-day moving average price of $15.32. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.23). The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.07 billion. EchoStar had a positive return on equity of 2.26% and a negative net margin of 23.47%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. As a group, equities analysts expect that EchoStar will post -1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the period. Goldentree Asset Management LP raised its stake in EchoStar by 20.4% during the first quarter. Goldentree Asset Management LP now owns 2,505,475 shares of the communications equipment provider’s stock valued at $35,703,000 after buying an additional 424,259 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in EchoStar during the first quarter valued at $272,000. Comerica Bank raised its stake in EchoStar by 365.5% during the first quarter. Comerica Bank now owns 51,390 shares of the communications equipment provider’s stock valued at $732,000 after buying an additional 40,350 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in EchoStar during the first quarter valued at $511,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Company Profile

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.