DISH Network (NASDAQ:DISH) Downgraded to Neutral at JPMorgan Chase & Co.

DISH Network (NASDAQ:DISH – Get Rating) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday, The Fly reports. They currently have a $30.00 price target on the stock, down from their previous price target of $40.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 35.01% from the stock’s current price.

DISH has been the subject of a number of other reports. Cowen reduced their price target on shares of DISH Network from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, February 25th. StockNews.com started coverage on shares of DISH Network in a report on Thursday, March 31st. They set a “sell” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of DISH Network from $71.00 to $67.00 and set a “buy” rating for the company in a report on Friday, February 25th. Truist Financial reduced their price objective on shares of DISH Network from $40.00 to $32.00 and set a “hold” rating for the company in a report on Friday, February 25th. Finally, UBS Group raised shares of DISH Network from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, March 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.39.

NASDAQ:DISH opened at $22.22 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.15 and a quick ratio of 1.07. DISH Network has a one year low of $21.77 and a one year high of $47.05. The company has a fifty day moving average price of $30.86 and a 200 day moving average price of $32.73. The stock has a market cap of $11.75 billion, a P/E ratio of 6.37, a PEG ratio of 1.40 and a beta of 1.92.

DISH Network (NASDAQ:DISH – Get Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.07). DISH Network had a net margin of 13.48% and a return on equity of 16.48%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the company earned $0.99 earnings per share. DISH Network’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that DISH Network will post 2.61 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the business. Balentine LLC acquired a new stake in shares of DISH Network during the 1st quarter worth approximately $1,078,000. AIA Group Ltd bought a new position in shares of DISH Network during the first quarter valued at $121,000. IFM Investors Pty Ltd raised its stake in shares of DISH Network by 11.6% during the first quarter. IFM Investors Pty Ltd now owns 38,710 shares of the company’s stock valued at $1,225,000 after acquiring an additional 4,024 shares during the last quarter. Affinity Investment Advisors LLC raised its stake in shares of DISH Network by 12.2% during the first quarter. Affinity Investment Advisors LLC now owns 18,668 shares of the company’s stock valued at $591,000 after acquiring an additional 2,028 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. bought a new position in shares of DISH Network during the first quarter valued at $3,165,000. Hedge funds and other institutional investors own 46.90% of the company’s stock.

About DISH Network (Get Rating)

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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