DISH Network (NASDAQ:DISH) Hits New 52-Week Low at $10.57

DISH Network Co. (NASDAQ:DISH – Get Rating) reached a new 52-week low on Friday . The company traded as low as $10.57 and last traded at $10.77, with a volume of 2467945 shares. The stock had previously closed at $11.29.

Analyst Upgrades and Downgrades

Several brokerages have commented on DISH. JPMorgan Chase & Co. dropped their price objective on DISH Network from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, February 27th. Morgan Stanley reduced their price objective on shares of DISH Network from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, January 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $35.00 target price on shares of DISH Network in a research report on Friday, February 24th. The Goldman Sachs Group started coverage on shares of DISH Network in a research report on Tuesday, January 10th. They set a “neutral” rating and a $14.00 price target for the company. Finally, Bank of America cut DISH Network from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $30.00 to $10.00 in a report on Tuesday, February 28th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, DISH Network currently has an average rating of “Hold” and an average target price of $29.93.

DISH Network Stock Performance

The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 2.91 and a beta of 1.84. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a fifty day moving average of $13.71 and a 200 day moving average of $14.79.

DISH Network (NASDAQ:DISH – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $1.00. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DISH Network had a return on equity of 13.66% and a net margin of 13.81%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. As a group, sell-side analysts forecast that DISH Network Co. will post 1.24 EPS for the current year.

Insiders Place Their Bets

In other news, Director James Defranco purchased 1,450,000 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was acquired at an average price of $10.84 per share, with a total value of $15,718,000.00. Following the purchase, the director now directly owns 3,567,658 shares in the company, valued at approximately $38,673,412.72. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 2,100,000 shares of company stock valued at $22,877,000 over the last ninety days. Company insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its position in DISH Network by 3,175.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,129 shares of the company’s stock valued at $28,000 after purchasing an additional 2,064 shares during the period. Altshuler Shaham Ltd raised its holdings in shares of DISH Network by 22.4% in the 4th quarter. Altshuler Shaham Ltd now owns 7,575 shares of the company’s stock valued at $106,000 after buying an additional 1,387 shares during the period. Public Employees Retirement System of Ohio lifted its stake in DISH Network by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 128,437 shares of the company’s stock worth $1,803,000 after acquiring an additional 2,694 shares in the last quarter. CI Private Wealth LLC purchased a new position in DISH Network during the 4th quarter valued at about $283,000. Finally, Captrust Financial Advisors grew its position in DISH Network by 81.7% in the 4th quarter. Captrust Financial Advisors now owns 70,491 shares of the company’s stock valued at $990,000 after acquiring an additional 31,688 shares in the last quarter. 96.51% of the stock is currently owned by institutional investors and hedge funds.

DISH Network Company Profile

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DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through the Pay-TV and Wireless segments. The Pay-TV segment operates under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles William Ergen, Cantey M.