EchoStar Corporation (NASDAQ:SATS - Get Free Report) shares traded up 9.8% on Friday . The stock traded as high as $27.70 and last traded at $27.95. 1,045,824 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 2,209,384 shares. The stock had previously closed at $25.46.
Analysts Set New Price Targets
Separately, Citigroup increased 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, EchoStar currently has a consensus rating of "Hold" and a consensus target price of $24.70.
Get Our Latest Stock Analysis on SATS
EchoStar Price Performance
The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The company's fifty day moving average price is $21.52 and its 200 day moving average price is $24.27. The company has a market capitalization of $8.27 billion, a P/E ratio of -38.43 and a beta of 0.74.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.19. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative return on equity of 1.08% and a negative net margin of 1.37%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.40) EPS. As a group, sell-side analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.
Institutional Investors Weigh In On EchoStar
Several institutional investors and hedge funds have recently bought and sold shares of SATS. Fifth Third Bancorp increased its holdings in EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after buying an additional 567 shares during the period. Xponance Inc. raised its position in EchoStar by 8.7% during the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock valued at $201,000 after purchasing an additional 701 shares in the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in EchoStar by 2.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider's stock worth $1,090,000 after purchasing an additional 941 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of EchoStar by 8,125.0% in 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after purchasing an additional 976 shares during the last quarter. Institutional investors own 33.62% of the company's stock.
About EchoStar
(
Get Free Report)
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.
Further Reading
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