Todays Report: The Dish Network Corp. (DISH) Downgraded by Zacks Investment Research to “Sell”

The Dish Network Corp. (DISH) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Dish Network Corp. (NASDAQ:DISH) from a hold rating to a sell rating in a research report report published on Friday morning.

According to Zacks, “Persistent loss of subscribers remains a headwind for DISH Network. Also, DISH's margins may face pressure if it is unable to renew its long-term programming contracts on favorable pricing and other economic terms. Further, DISH's failure to strike any deal with wireless operators to deploy a nationwide wireless network has been acting as a major headwind. However, DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator should aid the company’s performance as it has emerged as a strong alternative to counter the competitive threat from video streaming operators.”

Several other equities research analysts also recently issued reports on DISH. Moffett Nathanson downgraded shares of Dish Network Corp. from a neutral rating to a sell rating and set a $40.00 price objective for the company. in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Wunderlich downgraded shares of Dish Network Corp. from a hold rating to a sell rating and set a $48.00 price objective for the company. in a research report on Friday, July 22nd. Royal Bank Of Canada increased their price objective on shares of Dish Network Corp. from $50.00 to $56.00 and gave the stock a sector perform rating in a research report on Friday, July 22nd. Pacific Crest reaffirmed a hold rating on shares of Dish Network Corp. in a research report on Friday, July 22nd. Finally, Jefferies Group reaffirmed a buy rating and issued a $80.00 target price on shares of Dish Network Corp. in a research report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Dish Network Corp. presently has an average rating of Hold and a consensus target price of $66.46.

Dish Network Corp. (NASDAQ:DISH) traded down 0.40% on Friday, reaching $56.74. 577,984 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $53.06 and its 200-day moving average is $50.66. Dish Network Corp. has a 12 month low of $38.85 and a 12 month high of $65.49. The firm has a market cap of $26.38 billion, a PE ratio of 30.31 and a beta of 0.84.

Dish Network Corp. (NASDAQ:DISH) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.17. Dish Network Corp. had a net margin of 5.75% and a return on equity of 42.01%. The company earned $3.84 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Dish Network Corp. will post $3.08 earnings per share for the current year.

In other Dish Network Corp. news, insider Carl E. Vogel sold 30,000 shares of Dish Network Corp. stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $53.54, for a total value of $1,606,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 49.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the company. Brinker Capital Inc. raised its position in Dish Network Corp. by 0.6% in the second quarter. Brinker Capital Inc. now owns 11,507 shares of the company’s stock valued at $603,000 after buying an additional 69 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Dish Network Corp. by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 28,081 shares of the company’s stock valued at $1,471,000 after buying an additional 77 shares in the last quarter. CIBC Asset Management Inc raised its position in Dish Network Corp. by 0.5% in the second quarter. CIBC Asset Management Inc now owns 24,095 shares of the company’s stock valued at $1,263,000 after buying an additional 122 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Dish Network Corp. by 2.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 5,703 shares of the company’s stock valued at $269,000 after buying an additional 134 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Dish Network Corp. by 0.3% in the second quarter. Mackenzie Financial Corp now owns 54,833 shares of the company’s stock valued at $2,873,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 45.36% of the company’s stock.

About Dish Network Corp.

DISH Network Corporation is a holding company. The Company operates through two segments: DISH and Wireless. It offers Pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.

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