EchoStar Co. (NASDAQ:SATS) Receives $24.80 Consensus Target Price from Brokerages

EchoStar Co. (NASDAQ:SATSGet Free Report) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.80.

Several research firms have recently commented on SATS. JPMorgan Chase & Co. initiated coverage on EchoStar in a report on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. UBS Group raised their target price on shares of EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. TD Cowen cut their target price on EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Finally, began coverage on EchoStar in a report on Thursday, March 28th. They issued a “buy” rating for the company.

Read Our Latest Research Report on EchoStar

EchoStar Price Performance

Shares of NASDAQ SATS opened at $13.04 on Friday. The stock has a fifty day moving average of $13.56 and a 200-day moving average of $13.73. The stock has a market cap of $3.54 billion, a PE ratio of -1.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.61. EchoStar has a fifty-two week low of $9.53 and a fifty-two week high of $24.80.

EchoStar (NASDAQ:SATSGet Free Report) last announced its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $1.19. The business had revenue of $4.16 billion for the quarter. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. EchoStar’s revenue was up 732.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities research analysts anticipate that EchoStar will post -1.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director James Defranco bought 110,000 shares of the stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $13.48 per share, with a total value of $1,482,800.00. Following the completion of the acquisition, the director now owns 306,951 shares of the company’s stock, valued at $4,137,699.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SATS. BlackRock Inc. grew its position in EchoStar by 13.6% in the 2nd quarter. BlackRock Inc. now owns 4,444,060 shares of the communications equipment provider’s stock valued at $77,060,000 after acquiring an additional 531,537 shares during the last quarter. Vanguard Group Inc. boosted its position in EchoStar by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 4,046,742 shares of the communications equipment provider’s stock valued at $67,055,000 after acquiring an additional 581,159 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of EchoStar by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,366,819 shares of the communications equipment provider’s stock worth $43,289,000 after acquiring an additional 182,601 shares in the last quarter. Pennant Select LLC purchased a new position in EchoStar in the fourth quarter valued at about $36,892,000. Finally, Beryl Capital Management LLC bought a new position in EchoStar in the third quarter worth about $36,090,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About EchoStar

(Get Free Report

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.

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Analyst Recommendations for EchoStar (NASDAQ:SATS)

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