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

EchoStar Co. (NASDAQ:SATS) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

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

EchoStar Price Performance

Shares of NASDAQ SATS opened at $25.76 on Friday. The stock’s 50-day moving average is $20.56 and its two-hundred day moving average is $17.93. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. The company has a market cap of $6.99 billion, a price-to-earnings ratio of -3.34 and a beta of 0.70. EchoStar has a 1-year low of $9.53 and a 1-year high of $27.15.

EchoStar (NASDAQ:SATS) last issued its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share 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 firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period last year, the business earned $0.39 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. Analysts forecast that EchoStar will post -1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Darsana Capital Partners LP purchased a new stake in EchoStar in the second quarter valued at approximately $36,908,000. Texas Permanent School Fund Corp raised its position in EchoStar by 263.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock valued at $1,502,000 after purchasing an additional 76,407 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in EchoStar during the 1st quarter worth $398,000. State of New Jersey Common Pension Fund D acquired a new stake in EchoStar during the 2nd quarter worth $1,830,000. Finally, P Schoenfeld Asset Management LP purchased a new position in EchoStar during the 4th quarter worth $3,782,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

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.