Citigroup Issues Positive Forecast for EchoStar (NASDAQ:SATS) Stock Price

EchoStar (NASDAQ:SATS - Get Free Report) had its price target boosted by research analysts at Citigroup from $27.00 to $28.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the communications equipment provider's stock. Citigroup's price objective would indicate a potential upside of 11.94% from the stock's current price.

EchoStar Trading Up 3.4%

Shares of NASDAQ:SATS traded up $0.83 during trading on Monday, hitting $25.46. 2,796,459 shares of the company's stock were exchanged, compared to its average volume of 2,212,551. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 1.26. The firm has a market cap of $7.32 billion, a P/E ratio of -33.95 and a beta of 0.74. The firm has a 50-day moving average price of $21.52 and a two-hundred day moving average price of $24.27. EchoStar has a 1-year low of $14.79 and a 1-year high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.19. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.87 billion. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Equities analysts predict that EchoStar will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On EchoStar

A number of institutional investors have recently made changes to their positions in SATS. Farther Finance Advisors LLC lifted its stake in EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 975 shares during the period. Smartleaf Asset Management LLC grew its position in shares of EchoStar by 251.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after buying an additional 1,151 shares during the period. State of Wyoming bought a new stake in shares of EchoStar in the 4th quarter valued at about $47,000. Fifth Third Bancorp increased its stake in shares of EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after acquiring an additional 567 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 976 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Company Profile

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.