EchoStar (NASDAQ:SATS) Price Target Raised to $91.00

Key Points

• Morgan Stanley has raised its price target for EchoStar from $59.00 to $91.00, suggesting a potential upside of 9.91% from the stock's previous close while maintaining an "equal weight" rating.
• Several other analysts have also increased their price targets, with Deutsche Bank setting a target at $105.00, and TD Cowen raising it to $67.00 while giving a "buy" rating.
• EchoStar recently reported its quarterly earnings, beating consensus estimates with an EPS of ($1.06) but showed a revenue decline of 5.8% year-over-year to $3.72 billion.

EchoStar (NASDAQ:SATS - Get Free Report) had its price objective upped by Morgan Stanley from $59.00 to $91.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the communications equipment provider's stock. Morgan Stanley's price objective points to a potential upside of 9.91% from the stock's previous close.

A number of other equities research analysts have also recently commented on SATS. Deutsche Bank Aktiengesellschaft set a $105.00 price target on shares of EchoStar in a report on Tuesday. TD Cowen upped their price target on shares of EchoStar from $28.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Cowen reissued a "buy" rating on shares of EchoStar in a report on Wednesday, August 27th. Finally, Citigroup reaffirmed a "neutral" rating on shares of EchoStar in a report on Friday, August 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.90.

EchoStar Trading Up 2.7%

NASDAQ SATS opened at $82.79 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $36.00 and a 200 day simple moving average of $27.89. EchoStar has a 12 month low of $14.90 and a 12 month high of $84.48. The firm has a market capitalization of $23.82 billion, a P/E ratio of -78.80 and a beta of 0.99.

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

Institutional Trading of EchoStar

A number of large investors have recently modified their holdings of the business. Darsana Capital Partners LP increased its position in shares of EchoStar by 15.5% in the second quarter. Darsana Capital Partners LP now owns 8,960,000 shares of the communications equipment provider's stock worth $248,192,000 after purchasing an additional 1,201,672 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 worth $95,553,000 after buying an additional 355,009 shares in the last quarter. Northern Trust Corp increased its holdings in shares of EchoStar by 25.3% in the 1st quarter. Northern Trust Corp now owns 1,699,986 shares of the communications equipment provider's stock worth $43,486,000 after buying an additional 343,590 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of EchoStar by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,268,572 shares of the communications equipment provider's stock valued at $35,139,000 after buying an additional 313,314 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of EchoStar by 325.3% during the 4th quarter. Deutsche Bank AG now owns 940,950 shares of the communications equipment provider's stock worth $21,548,000 after acquiring an additional 719,685 shares during the last quarter. Institutional investors own 33.62% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.