DISH Network (NASDAQ:DISH) was downgraded by equities research analysts at BidaskClub from a "buy" rating to a "hold" rating in a research note issued on Saturday, BidAskClub reports.
Several other brokerages have also recently commented on DISH. Barclays reaffirmed a "sell" rating and set a $21.00 target price on shares of DISH Network in a report on Friday, April 17th. Zacks Investment Research lowered DISH Network from a "hold" rating to a "sell" rating and set a $27.00 price objective on the stock. in a research note on Tuesday, May 12th. Raymond James reiterated a "strong-buy" rating and set a $48.00 target price (up from $47.00) on shares of DISH Network in a research report on Monday, May 18th. ValuEngine upgraded DISH Network from a "sell" rating to a "hold" rating in a research report on Friday, May 8th. Finally, Morgan Stanley cut their price objective on shares of DISH Network from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. DISH Network presently has an average rating of "Hold" and an average target price of $36.08.
DISH opened at $31.87 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.00 and a quick ratio of 0.93. The business has a fifty day simple moving average of $33.17 and a 200 day simple moving average of $30.70. DISH Network has a 1 year low of $17.09 and a 1 year high of $44.65. The company has a market capitalization of $16.16 billion, a PE ratio of 14.82 and a beta of 1.76.
DISH Network (NASDAQ:DISH) last announced its earnings results on Thursday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.57 by ($0.44). DISH Network had a net margin of 8.82% and a return on equity of 10.61%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $0.65 EPS. The company's revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that DISH Network will post 1.86 earnings per share for the current fiscal year.
In related news, EVP Thomas A. Cullen sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.00, for a total value of $1,750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 53.50% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DISH. State of New Jersey Common Pension Fund D bought a new stake in DISH Network in the first quarter valued at approximately $3,649,000. Unison Advisors LLC acquired a new position in shares of DISH Network in the 2nd quarter valued at about $2,823,000. Envestnet Asset Management Inc. bought a new stake in shares of DISH Network during the 2nd quarter valued at about $2,716,000. Eidelman Virant Capital acquired a new stake in DISH Network during the second quarter worth approximately $1,808,000. Finally, Arden Trust Co bought a new stake in DISH Network in the second quarter worth approximately $913,000. Institutional investors and hedge funds own 42.92% of the company's stock.
DISH Network Company Profile
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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