EchoStar's (SATS) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• EchoStar's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns regarding the company's performance.
• Despite negative ratings, several firms like Citigroup and TD Cowen have recently increased their target prices for EchoStar, underscoring mixed analyst sentiments.
• The company experienced a decline in quarterly revenue of 5.8% year-over-year, with a reported earnings per share of ($1.06), slightly exceeding consensus estimates.

EchoStar (NASDAQ:SATS - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on SATS. Citigroup upped their price objective on EchoStar from $67.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Cowen reissued a "buy" rating on shares of EchoStar in a report on Wednesday, August 27th. TD Cowen boosted their target price on EchoStar from $28.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Morgan Stanley boosted their target price on EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 target price on EchoStar in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $75.20.

EchoStar Trading Up 1.4%

Shares of SATS stock traded up $1.07 on Wednesday, hitting $76.25. The stock had a trading volume of 2,059,311 shares, compared to its average volume of 5,370,288. 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 has a market capitalization of $21.94 billion, a P/E ratio of -72.62 and a beta of 0.96. EchoStar has a 1 year low of $14.90 and a 1 year high of $85.37. The company's 50 day moving average price is $55.83 and its 200-day moving average price is $35.05.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.06. The firm 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%.The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.76) EPS. Analysts anticipate that EchoStar will post -1.99 earnings per share for the current year.

Insider Buying and Selling

In other news, COO John Swieringa sold 154,835 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the completion of the transaction, the chief operating officer directly owned 432 shares of the company's stock, valued at approximately $35,078.40. This represents a 99.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Q. Abernathy sold 16,754 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $82.35, for a total value of $1,379,691.90. The disclosure for this sale can be found here. Insiders sold 460,740 shares of company stock valued at $35,967,480 in the last quarter. 55.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in 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 buying an additional 975 shares during the last quarter. Fifth Third Bancorp grew its holdings in EchoStar by 44.5% during 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 last quarter. Lazard Asset Management LLC acquired a new stake in EchoStar during the 2nd quarter valued at $73,000. GAMMA Investing LLC grew its holdings in EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after buying an additional 976 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in EchoStar by 70,980.0% during the 1st quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider's stock valued at $91,000 after buying an additional 3,549 shares during the last quarter. Hedge funds and other 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.

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