Analysts Set EchoStar Co. (NASDAQ:SATS) Target Price at $23.00

Shares of EchoStar Co. (NASDAQ:SATS) have received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $23.00.

Several equities analysts have recently weighed in on SATS shares. StockNews.com upgraded EchoStar to a “sell” rating in a research report on Tuesday, July 30th. Morgan Stanley boosted their price objective on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. UBS Group raised their price objective on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. Finally, TD Cowen lowered their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

EchoStar Trading Up 0.5 %

Shares of SATS stock opened at $26.04 on Friday. EchoStar has a 12-month low of $9.53 and a 12-month high of $27.15. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $20.11 and a 200-day moving average of $17.65. The firm has a market cap of $7.07 billion, a P/E ratio of -3.38 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period last year, the firm earned $0.39 EPS. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Sell-side analysts anticipate that EchoStar will post -1.81 earnings per share for the current year.

Institutional Trading of EchoStar

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares during the period. Louisiana State Employees Retirement System increased its position in EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock valued at $1,081,000 after buying an additional 1,100 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC boosted its holdings in EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 1,469 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of EchoStar by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock valued at $1,240,000 after acquiring an additional 2,176 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

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.