Other analysts also recently issued research reports about the stock. Daiwa Capital Markets downgraded shares of Baidu from a buy rating to a neutral rating in a research report on Friday, May 17th. Raymond James set a C$0.50 target price on shares of Obsidian Energy and gave the stock a market perform rating in a research report on Tuesday, May 21st. Finally, Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Echostar has an average rating of Buy and a consensus price target of $57.00.
SATS opened at $46.19 on Tuesday. The business’s 50 day simple moving average is $43.54. The firm has a market cap of $4.43 billion, a P/E ratio of 121.55 and a beta of 0.76. Echostar has a 1 year low of $33.58 and a 1 year high of $49.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.68 and a current ratio of 2.73.
Echostar (NASDAQ:SATS) last posted its earnings results on Wednesday, May 8th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. The firm had revenue of $531.08 million during the quarter, compared to the consensus estimate of $529.55 million. Echostar had a negative net margin of 0.20% and a positive return on equity of 0.87%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, analysts expect that Echostar will post 0.96 EPS for the current year.
In other Echostar news, CEO Michael T. Dugan sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $42.89, for a total value of $2,144,500.00. Following the completion of the sale, the chief executive officer now owns 75,146 shares of the company’s stock, valued at $3,223,011.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 51.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of SATS. Park West Asset Management LLC acquired a new stake in Echostar in the fourth quarter valued at approximately $38,556,000. Norges Bank purchased a new position in shares of Echostar during the 4th quarter valued at approximately $20,726,000. Ancora Advisors LLC purchased a new position in shares of Echostar during the 4th quarter valued at approximately $9,196,000. Barclays PLC boosted its stake in shares of Echostar by 1,169.6% during the 4th quarter. Barclays PLC now owns 199,940 shares of the communications equipment provider’s stock valued at $7,342,000 after buying an additional 184,192 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Echostar by 25.3% during the 4th quarter. Millennium Management LLC now owns 828,151 shares of the communications equipment provider’s stock valued at $30,410,000 after buying an additional 167,267 shares during the last quarter. 47.48% of the stock is owned by institutional investors.
EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.
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