EchoStar Co. (NASDAQ:SATS) Receives $20.50 Consensus Target Price from Brokerages

EchoStar Co. (NASDAQ:SATS) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.50.

A number of equities analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 target price for the company. Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, TD Cowen cut their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Insider Buying and Selling

In other EchoStar news, Chairman Charles W. Ergen acquired 1,551,355 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 55.90% of the stock is currently owned by insiders.

Institutional Trading of EchoStar

Institutional investors and hedge funds have recently modified their holdings of the business. Darsana Capital Partners LP bought a new position in shares of EchoStar in the second quarter worth approximately $36,908,000. Citigroup Inc. grew its stake in EchoStar by 32.7% in the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock worth $4,084,000 after buying an additional 40,533 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of EchoStar in the 3rd quarter worth $651,000. Stonehill Capital Management LLC purchased a new stake in shares of EchoStar during the 3rd quarter valued at $9,235,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of EchoStar during the 2nd quarter worth $1,830,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Down 0.5 %

SATS stock opened at $22.90 on Friday. The stock has a fifty day moving average of $24.00 and a 200-day moving average of $21.95. EchoStar has a fifty-two week low of $11.83 and a fifty-two week high of $30.08. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -2.50 and a beta of 0.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

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.