EchoStar Corp. (NASDAQ:SATS)‘s stock had its “positive” rating reaffirmed by Macquarie in a research note issued to investors on Friday. They presently have a $55.00 price target on the stock. Macquarie’s price target would indicate a potential upside of 9.02% from the company’s previous close.
Several other equities analysts have also commented on the company. Zacks Investment Research raised EchoStar Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, November 11th. TheStreet raised EchoStar Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Finally, Citigroup Inc. raised their price objective on EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th.
EchoStar Corp. (NASDAQ:SATS) opened at 50.30 on Friday. The company’s 50-day moving average is $47.59 and its 200 day moving average is $41.62. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 22.57 and a beta of 0.84. EchoStar Corp. has a 52-week low of $30.86 and a 52-week high of $51.14.
EchoStar Corp. (NASDAQ:SATS) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The business earned $742 million during the quarter, compared to analyst estimates of $735.61 million. EchoStar Corp. had a return on equity of 5.28% and a net margin of 6.60%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Equities analysts forecast that EchoStar Corp. will post $1.85 earnings per share for the current fiscal year.
In other news, EVP Kranti Kilaru sold 69,202 shares of EchoStar Corp. stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $50.02, for a total value of $3,461,484.04. Following the completion of the transaction, the executive vice president now owns 5,423 shares of the company’s stock, valued at approximately $271,258.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 61.04% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Quaker Capital Investments LLC raised its position in EchoStar Corp. by 769.0% in the second quarter. Quaker Capital Investments LLC now owns 236,368 shares of the company’s stock valued at $9,384,000 after buying an additional 209,168 shares in the last quarter. Vanguard Group Inc. raised its position in EchoStar Corp. by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,253,304 shares of the company’s stock valued at $129,157,000 after buying an additional 148,602 shares in the last quarter. Mangrove Partners raised its position in EchoStar Corp. by 8.9% in the third quarter. Mangrove Partners now owns 1,478,728 shares of the company’s stock valued at $64,813,000 after buying an additional 120,610 shares in the last quarter. UBS Oconnor LLC bought a new position in EchoStar Corp. during the third quarter valued at about $5,011,000. Finally, Pagoda Asset Management LP raised its position in EchoStar Corp. by 277.4% in the third quarter. Pagoda Asset Management LP now owns 130,546 shares of the company’s stock valued at $5,722,000 after buying an additional 95,951 shares in the last quarter. 44.28% of the stock is owned by hedge funds and other institutional investors.
About EchoStar Corp.