EchoStar Corp. (NASDAQ:SATS)‘s stock had its “positive” rating restated by equities research analysts at Macquarie in a research report issued to clients and investors on Friday.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded EchoStar Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 11th. TheStreet upgraded EchoStar Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. Finally, Citigroup Inc. lifted their price target on EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 17th.
Shares of EchoStar Corp. (NASDAQ:SATS) traded up 0.12% during midday trading on Friday, hitting $50.49. The company had a trading volume of 12,527 shares. The company’s 50 day moving average is $47.32 and its 200 day moving average is $41.47. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 22.65 and a beta of 0.84. EchoStar Corp. has a one year low of $30.86 and a one year high of $50.77.
EchoStar Corp. (NASDAQ:SATS) last issued its earnings results on Tuesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The business had revenue of $742 million for the quarter, compared to analysts’ expectations of $735.61 million. EchoStar Corp. had a return on equity of 5.28% and a net margin of 6.60%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. Equities analysts forecast that EchoStar Corp. will post $1.85 earnings per share for the current fiscal year.
In other EchoStar Corp. news, EVP Kranti Kilaru sold 50,615 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $50.20, for a total value of $2,540,873.00. Following the transaction, the executive vice president now owns 5,378 shares in the company, valued at $269,975.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 61.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its position in shares of EchoStar Corp. by 50.7% in the second quarter. Quantbot Technologies LP now owns 2,534 shares of the company’s stock worth $100,000 after buying an additional 852 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of EchoStar Corp. during the third quarter worth approximately $119,000. BNP Paribas Arbitrage SA increased its position in shares of EchoStar Corp. by 12.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,903 shares of the company’s stock worth $115,000 after buying an additional 330 shares during the period. Paradigm Asset Management Co. LLC increased its position in shares of EchoStar Corp. by 13.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock worth $169,000 after buying an additional 488 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of EchoStar Corp. during the second quarter worth approximately $169,000. Hedge funds and other institutional investors own 43.41% of the company’s stock.
EchoStar Corp. Company Profile