Jefferies Group LLC Begins Coverage on EchoStar Corporation (SATS)

Jefferies Group LLC began coverage on shares of EchoStar Corporation (NASDAQ:SATS) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $65.00 target price on the communications equipment provider’s stock.

Other analysts have also issued reports about the company. Zacks Investment Research raised EchoStar Corporation from a sell rating to a hold rating in a research report on Saturday, May 13th. BidaskClub lowered EchoStar Corporation from a buy rating to a hold rating in a research report on Saturday, July 8th. Finally, TheStreet lowered EchoStar Corporation from a b- rating to a c+ rating in a research report on Monday, August 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $63.00.

EchoStar Corporation (SATS) opened at 56.13 on Friday. EchoStar Corporation has a 1-year low of $38.18 and a 1-year high of $62.50. The company’s 50-day moving average price is $58.99 and its 200 day moving average price is $58.13. The firm has a market capitalization of $5.37 billion, a PE ratio of 44.58 and a beta of 0.72.

EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by $0.05. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same period last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that EchoStar Corporation will post $0.56 EPS for the current year.

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In other news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $117,440. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael T. Dugan sold 5,000 shares of EchoStar Corporation stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $62.24, for a total value of $311,200.00. Following the sale, the chief executive officer now directly owns 30,146 shares in the company, valued at $1,876,287.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,128 shares of company stock worth $1,022,256. Corporate insiders own 73.54% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. MARSHALL WACE ASIA Ltd purchased a new stake in shares of EchoStar Corporation during the first quarter worth about $1,139,000. Bank of New York Mellon Corp increased its position in shares of EchoStar Corporation by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 250,359 shares of the communications equipment provider’s stock worth $14,258,000 after acquiring an additional 4,936 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of EchoStar Corporation by 3.6% during the first quarter. Ameriprise Financial Inc. now owns 33,262 shares of the communications equipment provider’s stock worth $1,894,000 after acquiring an additional 1,165 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of EchoStar Corporation during the first quarter worth about $1,287,000. Finally, First Trust Advisors LP increased its position in shares of EchoStar Corporation by 376.4% during the second quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock worth $14,631,000 after acquiring an additional 190,448 shares during the last quarter. 45.04% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Corporation Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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