EchoStar (NASDAQ:SATS) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of EchoStar (NASDAQ:SATS) in a report published on Saturday morning. The firm issued a sell rating on the communications equipment provider’s stock.

SATS has been the topic of several other research reports. TD Cowen lowered their target price on shares of EchoStar from $39.00 to $38.00 and set an outperform rating on the stock in a report on Monday, March 4th. Morgan Stanley decreased their price target on shares of EchoStar from $14.25 to $14.00 and set an equal weight rating on the stock in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. initiated coverage on shares of EchoStar in a research note on Wednesday, January 17th. They set a neutral rating and a $18.00 price target on the stock. Finally, UBS Group upped their price target on shares of EchoStar from $11.00 to $14.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $23.00.

EchoStar Price Performance

SATS stock opened at $13.88 on Friday. EchoStar has a one year low of $9.53 and a one year high of $24.80. The company’s fifty day moving average price is $13.58 and its 200-day moving average price is $13.47. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.61. The company has a market capitalization of $3.77 billion, a PE ratio of -1.99 and a beta of 0.69.

EchoStar (NASDAQ:SATS) last released its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 EPS for the quarter, topping the consensus estimate of $0.02 by $1.19. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The firm had revenue of $4.16 billion for the quarter. During the same period last year, the firm posted $0.59 EPS. EchoStar’s quarterly revenue was up 732.2% compared to the same quarter last year. On average, equities analysts anticipate that EchoStar will post -1.28 EPS for the current fiscal year.

Insider Transactions at EchoStar

In related news, Director James Defranco purchased 110,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $13.48 per share, for a total transaction of $1,482,800.00. Following the completion of the acquisition, the director now owns 306,951 shares in the company, valued at approximately $4,137,699.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp bought a new position in EchoStar during the 3rd quarter worth about $2,047,000. Versor Investments LP bought a new stake in shares of EchoStar in the 3rd quarter valued at about $1,849,000. American Century Companies Inc. boosted its holdings in shares of EchoStar by 9.1% in the 3rd quarter. American Century Companies Inc. now owns 474,254 shares of the communications equipment provider’s stock valued at $7,944,000 after buying an additional 39,575 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in shares of EchoStar by 443.1% in the 3rd quarter. New York Life Investment Management LLC now owns 122,387 shares of the communications equipment provider’s stock valued at $2,050,000 after buying an additional 99,854 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of EchoStar by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,465,583 shares of the communications equipment provider’s stock valued at $58,049,000 after buying an additional 33,451 shares in 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.