Stock analysts at Jefferies Group LLC began coverage on shares of EchoStar Corporation (NASDAQ:SATS) in a research report issued to clients and investors on Friday, September 8th, MarketBeat.com reports. The firm set a “hold” rating and a $65.00 price target on the communications equipment provider’s stock. Jefferies Group LLC’s target price indicates a potential upside of 13.14% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. TheStreet cut shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Zacks Investment Research upgraded shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.00.
EchoStar Corporation (SATS) opened at 57.45 on Friday. EchoStar Corporation has a 1-year low of $39.58 and a 1-year high of $62.50. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 45.63 and a beta of 0.72. The stock has a 50 day moving average price of $58.25 and a 200 day moving average price of $58.27.
EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). The business had revenue of $465.08 million during the quarter, compared to the consensus estimate of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. Analysts predict that EchoStar Corporation will post $0.66 EPS for the current year.
In related news, CFO David Rayner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $58.50, for a total value of $292,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anders N. Johnson sold 7,128 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total transaction of $418,556.16. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $117,440. The disclosure for this sale can be found here. 73.54% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of SATS. FNY Partners Fund LP purchased a new stake in shares of EchoStar Corporation during the 1st quarter valued at $142,000. The Manufacturers Life Insurance Company raised its position in shares of EchoStar Corporation by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock valued at $177,000 after buying an additional 207 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of EchoStar Corporation by 390.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock valued at $208,000 after buying an additional 2,732 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of EchoStar Corporation during the 1st quarter valued at $210,000. Finally, South State Corp purchased a new stake in shares of EchoStar Corporation during the 2nd quarter valued at $234,000. Hedge funds and other institutional investors own 45.04% of the company’s stock.
EchoStar Corporation Company Profile
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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