Echostar (NASDAQ:ECHO) Releases Quarterly Earnings Results, Beats Estimates By $4.90 EPS

Echostar (NASDAQ:ECHO) released its quarterly earnings results on Tuesday. The company reported $7.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $4.90, FiscalAI reports. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $3.00 million.

Echostar Stock Down 2.3%

NASDAQ:ECHO opened at $96.37 on Thursday. The stock has a market capitalization of $27.99 billion, a PE ratio of -3.90 and a beta of 1.06. Echostar has a 52 week low of $65.76 and a 52 week high of $147.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The company’s 50 day moving average price is $91.75.

Insider Buying and Selling at Echostar

In other news, Director William Wade sold 2,575 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the transaction, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This trade represents a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen Bye sold 8,508 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the sale, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,508 shares of company stock worth $1,224,686 over the last ninety days. Corporate insiders own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ECHO. Citigroup reduced their target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 17th. UBS Group boosted their target price on shares of Echostar from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. Finally, Zacks Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $139.44.

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.