Echostar CORP (NASDAQ:ECHO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• EchoStar has a “Moderate Buy” consensus rating from nine analysts, with six buys, one strong buy, one hold and one sell. The average 12-month price target is $134.88, compared with the stock’s recent price of $93.14.
• Analyst views remain mixed: Raymond James upgraded the stock to “strong buy” with a $115 target, while TD Cowen lowered its target to $130 but maintained a “buy” rating; Weiss Ratings initiated coverage with a sell rating.
• Insiders sold more than $1.2 million of shares over the past three months, while institutional investors own 33.62% of the company. EchoStar reported quarterly revenue of $3.67 billion and a loss of $0.51 per share, with analysts expecting a full-year loss of $1.35 per share.

Shares of Echostar CORP (NASDAQ:ECHO - Get Free Report) have earned an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $134.8750.

Several research firms have issued reports on ECHO. Weiss Ratings assumed coverage on Echostar in a research note on Monday, July 6th. They issued a "sell (d-)" rating on the stock. New Street Research set a $165.00 target price on Echostar in a research note on Monday, June 15th. 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 report on Friday, July 17th. TD Cowen dropped their price target on Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th.

Insider Activity

In related news, Director William Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the sale, the director owned 2,749 shares of the company's stock, valued at approximately $254,694.85. The trade was a 48.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Bye sold 8,508 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the transaction, the director owned 653 shares in the company, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. 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 three months. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Echostar

A number of institutional investors have recently made changes to their positions in ECHO. Bellwether Advisors LLC acquired a new stake in shares of Echostar during the fourth quarter worth $3,593,000. Dockside LLC bought a new stake in shares of Echostar in the fourth quarter valued at about $1,554,000. Seven Grand Managers LLC acquired a new position in shares of Echostar in the fourth quarter valued at about $21,740,000. Legal & General Group Plc grew its stake in shares of Echostar by 47.0% in the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the company's stock valued at $38,746,000 after acquiring an additional 114,018 shares in the last quarter. Finally, DNB Asset Management AS bought a new position in Echostar during the fourth quarter worth about $3,110,000. Institutional investors own 33.62% of the company's stock.

Echostar Price Performance

Echostar stock opened at $93.14 on Friday. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of -3.74 and a beta of 1.00. The business's 50-day moving average price is $89.96. Echostar has a fifty-two week low of $65.76 and a fifty-two week high of $147.25. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The firm had revenue of $3.67 billion during the quarter. As a group, analysts expect that Echostar will post -1.35 EPS for the current year.

Echostar Company Profile

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.

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