EchoStar (NASDAQ:SATS) Sets New 12-Month High at $27.20

EchoStar Co. (NASDAQ:SATS)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $27.20 and last traded at $27.20, with a volume of 4861 shares changing hands. The stock had previously closed at $26.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. TD Cowen decreased their price target on EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. UBS Group increased their price objective on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. StockNews.com raised EchoStar to a “sell” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley increased their price target on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.00.

EchoStar Trading Up 0.6 %

The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -3.53 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The business has a fifty day moving average price of $20.11 and a 200 day moving average price of $17.65.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was down 9.3% on a year-over-year basis. As a group, equities analysts forecast that EchoStar Co. will post -1.81 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock worth $1,081,000 after buying an additional 1,100 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC increased its position in EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in EchoStar by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock valued at $1,240,000 after buying an additional 2,176 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors.

About EchoStar

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.