Echostar Co. (NASDAQ:SATS) Receives Consensus Recommendation of “Buy” from Analysts

Echostar Co. (NASDAQ:SATS) has received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $57.00.

A number of brokerages recently weighed in on SATS. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Raymond James set a C$0.50 price target on shares of Obsidian Energy and gave the company a “market perform” rating in a research report on Tuesday, May 21st. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Finally, Daiwa Capital Markets downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th.

In related news, CEO Michael T. Dugan sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $42.89, for a total value of $2,144,500.00. Following the completion of the sale, the chief executive officer now owns 75,146 shares in the company, valued at approximately $3,223,011.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 51.60% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of SATS. Macquarie Group Ltd. lifted its position in Echostar by 600.0% in the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 600 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Echostar by 62.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,234 shares of the communications equipment provider’s stock worth $83,000 after buying an additional 861 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Echostar in the 4th quarter worth approximately $169,000. Great West Life Assurance Co. Can lifted its position in Echostar by 27.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,333 shares of the communications equipment provider’s stock worth $224,000 after buying an additional 1,353 shares in the last quarter. Finally, Barings LLC purchased a new stake in Echostar in the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 47.47% of the company’s stock.

NASDAQ:SATS traded up $0.64 during trading hours on Wednesday, reaching $45.75. 623,200 shares of the company’s stock were exchanged, compared to its average volume of 388,722. The stock has a market cap of $4.32 billion, a P/E ratio of 120.39 and a beta of 0.76. Echostar has a 12 month low of $33.58 and a 12 month high of $49.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.73 and a quick ratio of 2.68. The stock has a 50-day moving average price of $43.80.

Echostar (NASDAQ:SATS) last issued its earnings results on Wednesday, May 8th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. The firm had revenue of $531.08 million during the quarter, compared to analysts’ expectations of $529.55 million. Echostar had a negative net margin of 0.20% and a positive return on equity of 0.87%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. On average, sell-side analysts forecast that Echostar will post 0.96 EPS for the current year.

Echostar Company Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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