Echostar CORP (ECHO) – What Are Investment Firms Saying About This Stock?

Shares of Echostar CORP (NASDAQ:ECHO) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $137.88.

A number of research analysts have commented on ECHO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. TD Cowen dropped their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $134.00 price target on shares of Echostar in a research note on Monday, September 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a report on Friday, July 17th.

Echostar Price Performance

ECHO opened at $91.56 on Wednesday. Echostar has a one year low of $65.76 and a one year high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average is $90.89.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $24.14. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business posted ($1.06) earnings per share. Echostar’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Echostar will post -1.35 EPS for the current fiscal year.

Insider Activity

In other Echostar news, Director William Wade sold 2,425 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director directly owned 324 shares in the company, valued at approximately $29,639.52. This represents a 88.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen Bye sold 8,508 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the transaction, the director owned 653 shares in the company, valued at approximately $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,508 shares of company stock valued at $1,224,686 over the last three months. Company insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Echostar

A number of institutional investors and hedge funds have recently modified their holdings of ECHO. Accel Wealth Management lifted its holdings in Echostar by 34.0% in the third quarter. Accel Wealth Management now owns 3,033 shares of the company’s stock valued at $271,000 after buying an additional 769 shares during the period. GAMMA Investing LLC boosted its stake in Echostar by 12.5% in the third quarter. GAMMA Investing LLC now owns 4,256 shares of the company’s stock valued at $381,000 after acquiring an additional 473 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in Echostar by 1.1% in the third quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company’s stock valued at $1,058,000 after acquiring an additional 123 shares during the last quarter. Two Seas Capital LP grew its holdings in Echostar by 8.3% during the 3rd quarter. Two Seas Capital LP now owns 544,646 shares of the company’s stock worth $48,697,000 after acquiring an additional 41,671 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in Echostar during the 2nd quarter worth $223,000. 33.62% of the stock is owned by institutional investors.

About Echostar

EchoStar Corporation is a communications and technology company that provides connectivity services through wireless, satellite, and broadband networks. Its businesses include Boost Mobile, a wireless service provider offering mobile voice, data, and broadband services, as well as satellite communications and related connectivity solutions for consumers, businesses, and government customers.

The company also operates through Hughes, which provides satellite internet, managed network services, and other broadband solutions, particularly for customers in areas with limited access to terrestrial communications infrastructure.