EchoStar (NASDAQ:SATS) Issues Quarterly Earnings Results

EchoStar (NASDAQ:SATS) posted its quarterly earnings results on Thursday. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.87, Zacks reports. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%.

EchoStar Stock Up 2.0 %

NASDAQ:SATS traded up $0.61 on Friday, reaching $31.02. 1,267,415 shares of the stock traded hands, compared to its average volume of 1,719,822. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of -3.38 and a beta of 0.72. EchoStar has a 12 month low of $11.83 and a 12 month high of $31.02. The company’s fifty day simple moving average is $26.36 and its 200 day simple moving average is $24.34.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen dropped their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. UBS Group increased their price objective on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Morgan Stanley assumed coverage on shares of EchoStar in a research note on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price on the stock. Finally, StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.75.

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.