EchoStar Co. (NASDAQ:SATS) Receives $22.00 Consensus PT from Brokerages

EchoStar Co. (NASDAQ:SATS) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.00.

Several equities research analysts have recently commented on SATS shares. TD Cowen reduced their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com raised EchoStar to a “sell” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. Finally, UBS Group increased their target price on shares of EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th.

EchoStar Price Performance

NASDAQ SATS opened at $18.54 on Monday. The company has a 50-day moving average price of $18.72 and a 200-day moving average price of $16.64. EchoStar has a 52 week low of $9.53 and a 52 week high of $20.86. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $5.03 billion, a P/E ratio of -2.40 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last announced its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. Equities research analysts anticipate that EchoStar will post -1.64 earnings per share for the current year.

Institutional Trading of EchoStar

Several institutional investors and hedge funds have recently added to or reduced their stakes in SATS. GAMMA Investing LLC boosted its stake in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC boosted its position in shares of EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 1,469 shares during the last quarter. Quarry LP purchased a new position in EchoStar during the fourth quarter valued at $41,000. Finally, Quest Partners LLC bought a new stake in EchoStar in the 4th quarter valued at $42,000. 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.