Zacks Investment Research downgraded shares of DISH Network Corporation (NASDAQ:DISH) from a hold rating to a sell rating in a report released on Friday.
According to Zacks, “DISH posted weak third-quarter 2017 results, with the loss of 50,000 broadband subscribers due to stiff competition. The company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 14% as against the industry's loss of 12.3%. However, we appreciate DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. DISH Network is looking for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion. Launch of a mobile app, DISH Music bode well.”
DISH has been the subject of several other research reports. Citigroup Inc. raised DISH Network Corporation from a sell rating to a neutral rating and set a $54.00 target price for the company in a research note on Friday, September 15th. Macquarie reissued a hold rating and set a $60.00 target price (down previously from $68.00) on shares of DISH Network Corporation in a research note on Monday, October 2nd. Wells Fargo & Company reissued an outperform rating and set a $88.50 target price on shares of DISH Network Corporation in a research note on Thursday, August 31st. BidaskClub cut DISH Network Corporation from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Moffett Nathanson reissued a sell rating on shares of DISH Network Corporation in a research note on Monday, October 16th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $65.39.
Shares of DISH Network Corporation (DISH) traded up $0.05 during trading on Friday, reaching $50.86. The company had a trading volume of 2,263,800 shares, compared to its average volume of 2,711,088. DISH Network Corporation has a 52-week low of $46.07 and a 52-week high of $66.50. The stock has a market capitalization of $23,683.15, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.08. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.57 and a current ratio of 0.63.
DISH Network Corporation (NASDAQ:DISH) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.60 billion. DISH Network Corporation had a return on equity of 25.97% and a net margin of 7.22%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. equities analysts predict that DISH Network Corporation will post 2.06 EPS for the current fiscal year.
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In related news, EVP Jeffrey L. Mcschooler sold 785 shares of DISH Network Corporation stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.61, for a total value of $44,438.85. Following the completion of the transaction, the executive vice president now directly owns 165 shares in the company, valued at $9,340.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 1,110 shares of company stock valued at $62,046. 49.30% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in DISH. Dimensional Fund Advisors LP boosted its holdings in DISH Network Corporation by 27.7% in the first quarter. Dimensional Fund Advisors LP now owns 546,279 shares of the company’s stock valued at $34,682,000 after purchasing an additional 118,638 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in DISH Network Corporation by 2.2% in the second quarter. Xact Kapitalforvaltning AB now owns 28,669 shares of the company’s stock valued at $1,799,000 after purchasing an additional 618 shares during the period. Fox Run Management L.L.C. boosted its holdings in DISH Network Corporation by 25.1% in the second quarter. Fox Run Management L.L.C. now owns 4,700 shares of the company’s stock valued at $295,000 after purchasing an additional 942 shares during the period. Capstone Asset Management Co. boosted its holdings in DISH Network Corporation by 4.4% in the second quarter. Capstone Asset Management Co. now owns 16,967 shares of the company’s stock valued at $1,065,000 after purchasing an additional 720 shares during the period. Finally, Bank of Montreal Can lifted its holdings in DISH Network Corporation by 20.1% during the 2nd quarter. Bank of Montreal Can now owns 231,604 shares of the company’s stock worth $14,536,000 after buying an additional 38,695 shares during the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.
About DISH Network Corporation
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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