EchoStar Co. (NASDAQ:SATS) Receives $23.00 Average Price Target from Analysts

EchoStar Co. (NASDAQ:SATS) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.00.

Several analysts recently commented on SATS shares. UBS Group increased their price objective on shares of EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price objective on the stock. TD Cowen dropped their price target on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. StockNews.com began coverage on shares of EchoStar in a report on Saturday, April 13th. They set a “sell” rating on the stock. Finally, Morgan Stanley dropped their price target on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd.

Insider Buying and Selling

In other EchoStar news, Director James Defranco acquired 110,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $13.48 per share, with a total value of $1,482,800.00. Following the completion of the acquisition, the director now owns 306,951 shares in the company, valued at approximately $4,137,699.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 55.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EchoStar

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System raised its stake in EchoStar by 1,422.1% during the 1st quarter. New York State Teachers Retirement System now owns 115,360 shares of the communications equipment provider’s stock worth $1,644,000 after acquiring an additional 107,781 shares during the period. Krilogy Financial LLC bought a new stake in EchoStar during the 1st quarter worth approximately $353,000. Raymond James Financial Services Advisors Inc. raised its stake in EchoStar by 176.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 206,722 shares of the communications equipment provider’s stock worth $2,946,000 after acquiring an additional 131,889 shares during the period. Maryland State Retirement & Pension System raised its stake in EchoStar by 272.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 43,826 shares of the communications equipment provider’s stock worth $614,000 after acquiring an additional 32,071 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in EchoStar by 247.3% during the 1st quarter. State of Alaska Department of Revenue now owns 73,380 shares of the communications equipment provider’s stock worth $1,045,000 after acquiring an additional 52,249 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Up 0.9 %

Shares of EchoStar stock opened at $16.02 on Tuesday. EchoStar has a 1 year low of $9.53 and a 1 year high of $24.80. The company has a 50-day moving average of $13.80 and a 200 day moving average of $13.48. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -2.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.61 and a quick ratio of 0.53.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $1.21 EPS for the quarter, beating the consensus estimate of $0.02 by $1.19. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The company had revenue of $4.16 billion for the quarter. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 732.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that EchoStar will post -1.28 earnings per share for the current fiscal year.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.