EchoStar Corp. (NASDAQ:SATS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
Several other equities research analysts also recently commented on the company. Citigroup Inc. increased their price objective on EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. TheStreet downgraded EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Macquarie reissued an “outperform” rating and issued a $55.00 price objective on shares of EchoStar Corp. in a report on Friday, July 8th.
Shares of EchoStar Corp. (NASDAQ:SATS) opened at 46.62 on Wednesday. The stock has a 50 day moving average of $40.95 and a 200 day moving average of $40.16. EchoStar Corp. has a 52 week low of $30.86 and a 52 week high of $47.54. The firm has a market cap of $4.38 billion, a P/E ratio of 21.48 and a beta of 0.99.
EchoStar Corp. (NASDAQ:SATS) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.43 by $0.17. The company earned $757.60 million during the quarter, compared to the consensus estimate of $766.99 million. EchoStar Corp. had a return on equity of 5.17% and a net margin of 6.31%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Analysts anticipate that EchoStar Corp. will post $1.78 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP increased its stake 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 valued at $100,000 after buying an additional 852 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake 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 valued at $115,000 after buying an additional 330 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake 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 valued at $169,000 after buying an additional 488 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of EchoStar Corp. during the second quarter valued at about $169,000. Finally, Royal Bank of Canada increased its stake in shares of EchoStar Corp. by 90.1% in the first quarter. Royal Bank of Canada now owns 4,689 shares of the company’s stock valued at $209,000 after buying an additional 2,223 shares in the last quarter. 44.02% of the stock is owned by institutional investors and hedge funds.
EchoStar Corp. Company Profile
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.