Zacks Investment Research Upgrades DISH Network (NASDAQ:DISH) to “Hold”

DISH Network (NASDAQ:DISHGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $23.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 6.04% from the stock’s current price.

According to Zacks, “DISH’s first-quarter 2022 results reflected continued subscriber loss in the Pay-TV and SLING TV businesses, primarily due to stiff competition and cord-cutting. Additionally, increasing programming and content expenses, as well as higher retransmission fees, are hurting profitability. Further, a debt-ridden balance sheet is a concern. However, DISH’s focus on acquiring and retaining subscribers, who will be profitable over the long term, is expected to drive growth. Moreover, partnership with the likes of Qualcomm, Aviat, Everstream, Segra, Uniti, Zayo, Mavenir, Fujitsu, Altiostar, VMware, MATRIXX Software and Crown Castle for its standalone 5G network is a key catalyst. These initiatives bode well for DISH’s top-line growth in the long haul. Notably, shares have underperformed the industry on a year-to-date basis.”

DISH has been the topic of several other reports. Raymond James lowered their target price on DISH Network from $49.00 to $42.00 in a research note on Monday. Credit Suisse Group upgraded DISH Network from a “neutral” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Monday. JPMorgan Chase & Co. lowered DISH Network from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $30.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on DISH Network from $67.00 to $61.00 in a research note on Monday. Finally, Cowen decreased their price objective on DISH Network from $55.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, February 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.68.

DISH stock traded down $0.53 during midday trading on Monday, hitting $21.69. The company’s stock had a trading volume of 268,681 shares, compared to its average volume of 2,897,828. The stock’s 50-day moving average price is $30.86 and its 200 day moving average price is $32.73. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 1.25. DISH Network has a 1 year low of $21.77 and a 1 year high of $47.05. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 1.40 and a beta of 1.92.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Dodge & Cox boosted its holdings in DISH Network by 0.8% during the 4th quarter. Dodge & Cox now owns 38,268,088 shares of the company’s stock valued at $1,241,417,000 after acquiring an additional 286,601 shares during the period. Atreides Management LP boosted its holdings in DISH Network by 11.3% during the 4th quarter. Atreides Management LP now owns 5,187,126 shares of the company’s stock valued at $168,270,000 after acquiring an additional 527,522 shares during the period. Geode Capital Management LLC boosted its holdings in DISH Network by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,846,691 shares of the company’s stock valued at $156,862,000 after acquiring an additional 68,530 shares during the period. Wellington Management Group LLP boosted its holdings in DISH Network by 12.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,902,832 shares of the company’s stock valued at $169,617,000 after acquiring an additional 437,611 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in DISH Network by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,790,882 shares of the company’s stock valued at $121,312,000 after acquiring an additional 115,532 shares during the period. 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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