DISH Network (NASDAQ:DISH) Shares Down 3.8%

Shares of DISH Network Co. (NASDAQ:DISHGet Rating) dropped 3.8% during mid-day trading on Tuesday . The stock traded as low as $16.39 and last traded at $16.46. Approximately 235,686 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,274,213 shares. The stock had previously closed at $17.11.

DISH has been the topic of several research reports. Raymond James dropped their price objective on shares of DISH Network from $49.00 to $42.00 in a report on Monday, May 9th. Barclays reduced their target price on shares of DISH Network from $28.00 to $25.00 in a research report on Wednesday, May 11th. StockNews.com initiated coverage on shares of DISH Network in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Morgan Stanley reduced their target price on shares of DISH Network from $35.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. Finally, Pivotal Research cut their price target on shares of DISH Network from $50.00 to $40.00 in a report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

The stock has a market capitalization of $8.79 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 1.16 and a beta of 1.94. The firm’s fifty day moving average is $24.23 and its 200-day moving average is $29.15. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 1.12.

DISH Network (NASDAQ:DISHGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). DISH Network had a return on equity of 14.81% and a net margin of 12.49%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts predict that DISH Network Co. will post 2.49 EPS for the current year.

In other news, Director James Defranco bought 400,000 shares of the stock in a transaction on Thursday, May 12th. The shares were bought at an average price of $19.27 per share, with a total value of $7,708,000.00. Following the completion of the acquisition, the director now owns 1,661,428 shares of the company’s stock, valued at $32,015,717.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 53.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DISH. Covestor Ltd raised its holdings in shares of DISH Network by 268.9% during the 1st quarter. Covestor Ltd now owns 889 shares of the company’s stock valued at $28,000 after buying an additional 648 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in DISH Network during the 1st quarter valued at approximately $30,000. Rosenberg Matthew Hamilton acquired a new position in DISH Network during the 1st quarter valued at approximately $61,000. Pinebridge Investments L.P. bought a new stake in DISH Network during the 4th quarter valued at $64,000. Finally, CKW Financial Group raised its stake in DISH Network by 61.5% during the 1st quarter. CKW Financial Group now owns 2,100 shares of the company’s stock valued at $68,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 46.90% of the company’s stock.

DISH Network Company Profile (NASDAQ:DISH)

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

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