Prudential PLC Buys Shares of 5,997 EchoStar Corporation $SATS

Prudential PLC bought a new stake in shares of EchoStar Corporation (NASDAQ:SATS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,997 shares of the communications equipment provider’s stock, valued at approximately $652,000.

Other hedge funds have also added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in EchoStar during the 4th quarter valued at $28,000. Rosenberg Matthew Hamilton bought a new stake in shares of EchoStar during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of EchoStar during the 3rd quarter valued at $38,000. Tucker Asset Management LLC bought a new stake in shares of EchoStar during the 4th quarter valued at $42,000. Finally, BOKF NA grew its position in shares of EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 300 shares during the period. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SATS shares. TD Cowen boosted their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, New Street Research started coverage on shares of EchoStar in a research report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $137.14.

EchoStar Trading Up 0.3%

Shares of EchoStar stock opened at $116.62 on Tuesday. The company has a market capitalization of $33.80 billion, a P/E ratio of -2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. The company has a fifty day moving average of $125.82 and a 200 day moving average of $113.43. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $147.25.

EchoStar (NASDAQ:SATS) last issued its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.During the same period in the prior year, the company posted ($0.71) EPS. On average, sell-side analysts anticipate that EchoStar Corporation will post -3.79 earnings per share for the current fiscal year.

EchoStar Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.