Echostar CORP (NASDAQ:ECHO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Six of nine analysts rate EchoStar a buy, one rates it a strong buy, while one has a hold and one a sell. The average 12-month price target is $137.88, above the reported share price of $100.01.
• EchoStar reported weak profitability: The company posted a quarterly loss of $0.51 per share on $3.67 billion in revenue, with a negative net margin of 38.71%; analysts expect a full-year loss of $1.35 per share.
• Insiders have been selling shares: Directors sold a combined 13,508 shares worth approximately $1.22 million over the past 90 days, although insiders still own 54.60% of the company.

Echostar CORP (NASDAQ:ECHO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $137.88.

Several research firms have weighed in on ECHO. 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 upgraded shares of Echostar from a "neutral" rating to a "buy" rating and upped their price objective for the company from $127.00 to $150.00 in a research report on Tuesday, September 8th. New Street Research set a $165.00 price objective on Echostar in a research note on Monday, June 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Echostar in a research note on Friday. Finally, Citigroup reduced their target price on Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th.

Echostar Price Performance

Shares of ECHO stock opened at $100.01 on Wednesday. The company has a market cap of $29.05 billion, a PE ratio of -4.01 and a beta of 0.99. The company has a 50-day moving average of $90.07. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar has a one year low of $65.76 and a one year high of $147.25.

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

Insider Transactions at Echostar

In other news, Director Stephen Bye sold 8,508 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Wade sold 2,425 shares of Echostar stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. This trade represents a 88.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 13,508 shares of company stock worth $1,224,686. 54.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ECHO. Strive Financial Group LLC bought a new stake in shares of Echostar during the second quarter worth $28,000. SOA Wealth Advisors LLC. bought a new stake in Echostar in the 1st quarter valued at $34,000. NewEdge Advisors LLC lifted its position in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company's stock valued at $38,000 after acquiring an additional 186 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Echostar in the 1st quarter worth $39,000. Finally, Pittenger & Anderson Inc. acquired a new position in Echostar in the 2nd quarter worth $38,000. Institutional investors own 33.62% of the company's stock.

About Echostar

EchoStar Corporation is a communications and technology company that provides connectivity services through wireless, satellite, and broadband networks. Its businesses include Boost Mobile, a wireless service provider offering mobile voice, data, and broadband services, as well as satellite communications and related connectivity solutions for consumers, businesses, and government customers.

The company also operates through Hughes, which provides satellite internet, managed network services, and other broadband solutions, particularly for customers in areas with limited access to terrestrial communications infrastructure.

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