EchoStar Co. (NASDAQ:SATS) Receives $21.00 Average Target Price from Brokerages

Shares of EchoStar Co. (NASDAQ:SATS) have been given a consensus recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $21.00.

A number of brokerages recently weighed in on SATS. TD Cowen decreased their price objective on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Morgan Stanley increased their price objective on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. UBS Group lifted their target price on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price target on shares of EchoStar in a research report on Monday, August 12th. Finally, Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st.

EchoStar Stock Performance

Shares of NASDAQ:SATS opened at $26.13 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. EchoStar has a 12 month low of $9.53 and a 12 month high of $30.08. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of -3.04 and a beta of 0.70. The firm’s 50-day moving average is $24.64 and its 200 day moving average is $20.48.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data 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). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Research analysts predict that EchoStar will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SATS. Texas Permanent School Fund Corp lifted its holdings in shares of EchoStar by 263.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock valued at $1,502,000 after purchasing an additional 76,407 shares during the last quarter. Empowered Funds LLC boosted its holdings in EchoStar by 8.5% in the first quarter. Empowered Funds LLC now owns 285,519 shares of the communications equipment provider’s stock worth $4,069,000 after acquiring an additional 22,461 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of EchoStar during the first quarter worth about $300,000. Illinois Municipal Retirement Fund purchased a new stake in shares of EchoStar during the first quarter worth about $940,000. Finally, Swiss National Bank raised its position in shares of EchoStar by 247.2% in the 1st quarter. Swiss National Bank now owns 235,025 shares of the communications equipment provider’s stock valued at $3,349,000 after purchasing an additional 167,325 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

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.