EchoStar (NASDAQ:SATS) Price Target Raised to $15.00

EchoStar (NASDAQ:SATS) had its price objective increased by UBS Group from $14.00 to $15.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the communications equipment provider’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com upgraded EchoStar to a sell rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reiterated an underweight rating and set a $12.00 price target on shares of EchoStar in a research note on Monday. Finally, TD Cowen reduced their price target on shares of EchoStar from $38.00 to $37.00 and set a buy rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, EchoStar has a consensus rating of Hold and an average price target of $22.00.

EchoStar Trading Up 0.9 %

SATS traded up $0.16 on Tuesday, hitting $17.97. The company had a trading volume of 67,698 shares, compared to its average volume of 1,822,044. The company’s fifty day moving average price is $18.54 and its 200 day moving average price is $16.17. EchoStar has a 1 year low of $9.53 and a 1 year high of $21.02. The company has a current ratio of 0.44, a quick ratio of 0.35 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.88 billion, a P/E ratio of -2.31 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.19%. EchoStar’s revenue was down 9.3% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. As a group, equities analysts expect that EchoStar will post -1.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SATS. Texas Permanent School Fund Corp raised its holdings in shares of EchoStar by 263.3% in the first quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock valued at $1,502,000 after buying an additional 76,407 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of EchoStar during the first quarter worth $398,000. P Schoenfeld Asset Management LP purchased a new position in EchoStar in the 4th quarter valued at $3,782,000. Vanguard Group Inc. raised its position in EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after buying an additional 9,661,167 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in EchoStar during the first quarter worth about $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.