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

Key Points

• EchoStar Corporation has received a consensus recommendation of "Hold" from seven brokerages, with four analysts advising a hold and three recommending a buy, while the average price target is set at $49.90.
• Recent analyses have seen significant upward revisions on price targets, with Morgan Stanley increasing its target from $25.00 to $59.00, and TD Cowen lifting theirs from $28.00 to $67.00.
• EchoStar reported a quarterly EPS of ($1.06), exceeding estimates, although revenue decreased by 5.8% year-over-year with projections suggesting a -1.99 EPS for the current fiscal year.

EchoStar Corporation (NASDAQ:SATS - Get Free Report) has earned a consensus recommendation of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $49.90.

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of EchoStar from $43.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Cowen reissued a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. TD Cowen raised their target price on EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Morgan Stanley lifted their target price on EchoStar from $25.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Finally, Citigroup restated a "neutral" rating on shares of EchoStar in a research report on Friday, August 29th.

EchoStar Stock Performance

Shares of SATS stock traded up $3.31 on Tuesday, reaching $67.22. The stock had a trading volume of 4,536,564 shares, compared to its average volume of 3,375,778. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. EchoStar has a 1 year low of $14.90 and a 1 year high of $67.36. The stock has a market cap of $19.34 billion, a P/E ratio of -64.02 and a beta of 0.99. The company has a 50 day simple moving average of $33.33 and a 200 day simple moving average of $27.05.

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 analysts' consensus estimates of ($1.12) by $0.06. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.EchoStar's revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) earnings per share. Equities research analysts expect that EchoStar will post -1.99 EPS for the current year.

Hedge Funds Weigh In On EchoStar

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 975 shares during the period. State of Wyoming purchased a new stake in EchoStar in the 4th quarter worth $47,000. Fifth Third Bancorp raised its holdings in EchoStar by 44.5% during the first 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 period. Lazard Asset Management LLC purchased a new position in shares of EchoStar in the second quarter valued at about $73,000. Finally, GAMMA Investing LLC lifted its position in shares of EchoStar by 39.6% in the first 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 in the last quarter. Hedge funds and other institutional investors own 33.62% of the company's stock.

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.