Morgan Stanley Issues Positive Forecast for EchoStar (NASDAQ:SATS) Stock Price

EchoStar (NASDAQ:SATS) had its price objective increased by Morgan Stanley from $59.00 to $91.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the communications equipment provider’s stock.

Several other equities analysts have also recently issued reports on SATS. Citigroup reiterated a “neutral” rating on shares of EchoStar in a research note on Friday, August 29th. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research note on Tuesday. TD Cowen boosted their target price on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Finally, Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.90.

EchoStar Stock Performance

Shares of NASDAQ SATS opened at $83.57 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. EchoStar has a 12 month low of $14.90 and a 12 month high of $85.37. The company has a 50 day simple moving average of $37.10 and a two-hundred day simple moving average of $28.28. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of -79.59 and a beta of 0.99.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the previous year, the business posted ($0.76) EPS. The business’s revenue was down 5.8% compared to the same quarter last year. As a group, analysts predict that EchoStar will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

Several institutional investors and hedge funds have recently added to or reduced their stakes in SATS. Farther Finance Advisors LLC increased its holdings in EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 975 shares in the last quarter. State of Wyoming purchased a new stake in EchoStar in the 4th quarter worth $47,000. Fifth Third Bancorp increased its holdings in EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 567 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in EchoStar in the 2nd quarter worth $73,000. Finally, GAMMA Investing LLC increased its holdings in EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after acquiring an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

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.