DISH Network (NASDAQ:DISH) Price Target Cut to $18.00

DISH Network (NASDAQ:DISH – Get Rating) had its price objective dropped by equities researchers at Citigroup from $33.00 to $18.00 in a research note issued on Monday, The Fly reports. Citigroup’s price target would suggest a potential upside of 80.00% from the stock’s previous close.

Several other research firms have also recently commented on DISH. Raymond James reduced their target price on DISH Network from $28.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Friday, February 24th. Bank of America downgraded DISH Network from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $30.00 to $10.00 in a report on Tuesday, February 28th. The Goldman Sachs Group started coverage on DISH Network in a research report on Tuesday, January 10th. They set a “neutral” rating and a $14.00 price target on the stock. Barclays decreased their price objective on shares of DISH Network from $16.00 to $14.00 and set an “underweight” rating for the company in a report on Friday, February 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of DISH Network from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, February 27th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.93.

DISH Network Price Performance

DISH opened at $10.00 on Monday. The company has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $14.66. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 2.76 and a beta of 1.84. DISH Network has a twelve month low of $9.83 and a twelve month high of $33.74. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.10.

DISH Network (NASDAQ:DISH – Get Rating) last released its earnings results on Thursday, February 23rd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $0.47 by $1.00. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DISH Network had a return on equity of 13.66% and a net margin of 13.81%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. Equities research analysts expect that DISH Network will post 1.24 EPS for the current fiscal year.

Insider Transactions at DISH Network

In other news, Director James Defranco purchased 150,000 shares of the stock in a transaction dated Wednesday, March 8th. The stock was acquired at an average price of $11.46 per share, for a total transaction of $1,719,000.00. Following the completion of the transaction, the director now owns 3,767,658 shares of the company’s stock, valued at $43,177,360.68. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders bought 2,100,000 shares of company stock worth $22,877,000. Insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On DISH Network

Institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can bought a new position in DISH Network in the 3rd quarter valued at about $3,901,000. Thrivent Financial for Lutherans grew its stake in shares of DISH Network by 38.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,796,929 shares of the company’s stock worth $50,149,000 after purchasing an additional 771,322 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of DISH Network by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 107,375 shares of the company’s stock worth $1,485,000 after purchasing an additional 1,390 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of DISH Network by 12.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,416 shares of the company’s stock worth $387,000 after purchasing an additional 3,005 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of DISH Network by 5.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 293,767 shares of the company’s stock worth $4,063,000 after purchasing an additional 15,493 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.

About DISH Network

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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.