Echostar CORP (NASDAQ:ECHO) Stock Rated “Buy” by Sell-Side Brokerages

Echostar CORP (NASDAQ:ECHO) has received a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $139.44.

ECHO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. UBS Group lifted their target price on Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Finally, Zacks Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th.

Echostar Stock Down 8.8%

ECHO opened at $89.92 on Friday. The stock has a market capitalization of $26.12 billion, a price-to-earnings ratio of -3.61 and a beta of 1.06. The firm’s 50 day moving average price is $91.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.16 and a quick ratio of 5.12. Echostar has a 52-week low of $65.76 and a 52-week high of $147.25.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $4.90. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Echostar had a return on equity of 22.85% and a net margin of 81.29%. Equities analysts expect that Echostar will post -0.27 earnings per share for the current fiscal year.

Insider Activity at Echostar

In other news, Director William Wade sold 2,425 shares of Echostar stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at approximately $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 54.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECHO. Tidal Investments LLC bought a new stake in Echostar during the second quarter worth approximately $159,344,000. Tema ETFs LLC boosted its holdings in shares of Echostar by 83,917.0% during the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after buying an additional 1,537,359 shares during the period. Van ECK Associates Corp acquired a new position in Echostar in the 2nd quarter valued at $139,004,000. Bank of America Corp DE raised its holdings in Echostar by 42.4% in the 1st quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock worth $125,183,000 after acquiring an additional 318,248 shares during the period. Finally, Atreides Management LP lifted its position in Echostar by 11.0% during the 1st quarter. Atreides Management LP now owns 1,000,346 shares of the company’s stock worth $117,111,000 after acquiring an additional 99,262 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

About Echostar

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.