Echostar (NASDAQ:ECHO) Upgraded at Zacks Research

Echostar (NASDAQ:ECHO) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other equities analysts have also issued research reports about the company. UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research report on Friday, July 17th. JPMorgan Chase & Co. initiated coverage on Echostar in a research note on Friday, October 16th. They issued an “overweight” rating and a $144.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Finally, TD Cowen decreased their target price on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $138.56.

Echostar Price Performance

Shares of NASDAQ:ECHO opened at $86.39 on Monday. Echostar has a 1 year low of $65.76 and a 1 year high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average price of $90.71.

Echostar (NASDAQ:ECHO) last released its earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $24.14. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.06) earnings per share. Equities analysts anticipate that Echostar will post -0.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Stephen J. Bye sold 8,508 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares in the company, valued at approximately $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Wade sold 2,425 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director owned 324 shares of the company’s stock, valued at $29,639.52. This trade represents a 88.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,508 shares of company stock worth $1,224,686 in the last 90 days. Company insiders own 54.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Echostar during the 3rd quarter worth $25,000. Strive Financial Group LLC bought a new position in Echostar in the second quarter valued at about $28,000. SOA Wealth Advisors LLC. bought a new position in Echostar in the first quarter valued at about $34,000. Pittenger & Anderson Inc. bought a new position in Echostar in the second quarter valued at about $38,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Echostar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after purchasing an additional 186 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.