EchoStar (NASDAQ:SATS) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of EchoStar (NASDAQ:SATS) to a sell rating in a report released on Tuesday morning.

Several other equities analysts also recently weighed in on SATS. Morgan Stanley reduced their target price on shares of EchoStar from $14.25 to $14.00 and set an equal weight rating for the company in a research note on Wednesday, April 3rd. UBS Group boosted their price objective on shares of EchoStar from $11.00 to $14.00 and gave the company a neutral rating in a research report on Tuesday, March 5th. Finally, TD Cowen reduced their target price on shares of EchoStar from $39.00 to $38.00 and set an outperform rating on the stock in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $23.00.

EchoStar Stock Performance

Shares of SATS stock opened at $18.13 on Tuesday. EchoStar has a 52 week low of $9.53 and a 52 week high of $24.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.35 and a current ratio of 0.44. The company has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $15.30. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of -2.35 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last posted its earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23). EchoStar had a positive return on equity of 2.26% and a negative net margin of 23.47%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts predict that EchoStar will post -1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SATS. Vanguard Group Inc. lifted its stake in shares of EchoStar by 238.7% in the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after purchasing an additional 9,661,167 shares during the last quarter. Pennant Select LLC acquired a new stake in EchoStar in the 4th quarter valued at about $36,892,000. Pennant Investors LP acquired a new stake in EchoStar during the 4th quarter worth $35,679,000. Monarch Alternative Capital LP purchased a new position in EchoStar during the 1st quarter worth approximately $21,375,000. Finally, Apollo Management Holdings L.P. purchased a new position in EchoStar during the 1st quarter worth approximately $10,507,000. 33.62% of the stock is owned by institutional investors and hedge funds.

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.