EchoStar Corporation (NASDAQ:SATS - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $32.77 and last traded at $32.66, with a volume of 2814370 shares trading hands. The stock had previously closed at $31.36.
Wall Street Analyst Weigh In
Separately, Citigroup raised their price target on shares of EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, EchoStar presently has an average rating of "Hold" and an average target price of $24.70.
Get Our Latest Stock Analysis on EchoStar
EchoStar Stock Performance
The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of -43.50 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.19 and a current ratio of 1.26. The company's fifty day simple moving average is $22.77 and its two-hundred day simple moving average is $24.65.
EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.19. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business earned ($0.40) EPS. Equities research analysts predict that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SATS. Vanguard Group Inc. lifted its position in shares of EchoStar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider's stock worth $314,594,000 after buying an additional 88,488 shares during the last quarter. Darsana Capital Partners LP lifted its position in shares of EchoStar by 133.3% in the 4th quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider's stock worth $160,300,000 after buying an additional 4,000,000 shares during the last quarter. Diameter Capital Partners LP lifted its position in shares of EchoStar by 523.7% in the 4th quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider's stock worth $115,114,000 after buying an additional 4,220,853 shares during the last quarter. American Century Companies Inc. lifted its position in shares of EchoStar by 1.0% in the 4th quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider's stock worth $68,518,000 after buying an additional 28,779 shares during the last quarter. Finally, Pennant Investors LP lifted its position in shares of EchoStar by 4.2% in the 4th quarter. Pennant Investors LP now owns 2,417,837 shares of the communications equipment provider's stock worth $55,368,000 after buying an additional 97,000 shares during the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.
About EchoStar
(
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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.
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