EchoStar Corporation (NASDAQ:SATS) Given Consensus Rating of "Hold" by Brokerages

Key Points

• EchoStar Corporation has a consensus rating of "Hold" from six research firms, with a price target set at $24.70 by brokers.
• EchoStar’s shares experienced a slight decline of 1.0% recently, trading at $27.08, with a market cap of approximately $7.78 billion.
• In the latest earnings report, EchoStar posted an earnings per share of $-1.06, slightly exceeding the expected $-1.12, while revenue decreased by 5.8% year-over-year.

Shares of EchoStar Corporation (NASDAQ:SATS - Get Free Report) have been given an average rating of "Hold" by the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.70.

Separately, Citigroup boosted their target price on shares of EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a report on Monday, June 23rd.

EchoStar Price Performance

NASDAQ SATS traded up $0.11 during trading hours on Friday, hitting $27.19. 145,019 shares of the company's stock traded hands, compared to its average volume of 2,945,196. EchoStar has a 52-week low of $14.79 and a 52-week high of $34.20. The company has a market capitalization of $7.81 billion, a PE ratio of -25.89 and a beta of 0.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. The firm's 50-day moving average is $26.17 and its 200-day moving average is $25.48.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.06. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. EchoStar's revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) EPS. Equities analysts forecast that EchoStar will post -1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On EchoStar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of EchoStar by 19.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,476 shares of the communications equipment provider's stock valued at $955,000 after acquiring an additional 5,594 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of EchoStar by 14.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 30,578 shares of the communications equipment provider's stock valued at $847,000 after acquiring an additional 3,788 shares during the period. Geode Capital Management LLC raised its stake in shares of EchoStar by 11.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,449,193 shares of the communications equipment provider's stock valued at $95,553,000 after acquiring an additional 355,009 shares during the period. ProShare Advisors LLC raised its stake in shares of EchoStar by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 33,774 shares of the communications equipment provider's stock valued at $936,000 after acquiring an additional 2,272 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in shares of EchoStar by 192.8% in the 1st quarter. Summit Investment Advisors Inc. now owns 36,105 shares of the communications equipment provider's stock valued at $924,000 after acquiring an additional 23,773 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

About EchoStar

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.