ValuEngine Upgrades DISH Network (NASDAQ:DISH) to “Sell”

DISH Network (NASDAQ:DISH) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

DISH has been the topic of a number of other reports. Raymond James raised shares of DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 price target on the stock in a report on Monday, August 26th. Sanford C. Bernstein started coverage on shares of DISH Network in a report on Tuesday, October 15th. They set an “underperform” rating and a $29.00 price target on the stock. Barclays downgraded shares of DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Monday, July 29th. BidaskClub raised shares of DISH Network from a “sell” rating to a “hold” rating in a report on Saturday, October 12th. Finally, Citigroup lowered their price target on shares of DISH Network from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.21.

Shares of DISH stock traded down $0.15 during trading hours on Monday, hitting $34.62. The company’s stock had a trading volume of 1,217,997 shares, compared to its average volume of 2,719,866. The company has a 50 day moving average of $34.42 and a 200 day moving average of $35.50. The stock has a market cap of $16.39 billion, a PE ratio of 11.54 and a beta of 1.40. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. DISH Network has a 12-month low of $23.22 and a 12-month high of $44.65.

DISH Network (NASDAQ:DISH) last released its quarterly earnings data on Monday, July 29th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.05). DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that DISH Network will post 2.44 earnings per share for the current fiscal year.

In related news, insider James Defranco acquired 300,000 shares of DISH Network stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $31.18 per share, for a total transaction of $9,354,000.00. Following the completion of the transaction, the insider now owns 1,528,529 shares of the company’s stock, valued at approximately $47,659,534.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles W. Ergen acquired 100,000 shares of DISH Network stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $30.94 per share, with a total value of $3,094,000.00. Following the completion of the transaction, the chairman now directly owns 1,656,075 shares of the company’s stock, valued at approximately $51,238,960.50. The disclosure for this purchase can be found here. Insiders have acquired 700,005 shares of company stock valued at $21,958,159 over the last 90 days. 52.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of DISH. Doyle Wealth Management acquired a new position in DISH Network during the second quarter worth $25,000. Bessemer Group Inc. raised its position in DISH Network by 50.3% during the second quarter. Bessemer Group Inc. now owns 1,279 shares of the company’s stock worth $49,000 after acquiring an additional 428 shares during the period. Trust Co. of Vermont raised its position in DISH Network by 4,000.0% during the second quarter. Trust Co. of Vermont now owns 2,460 shares of the company’s stock worth $85,000 after acquiring an additional 2,400 shares during the period. Meeder Asset Management Inc. acquired a new position in DISH Network during the second quarter worth $93,000. Finally, Advisor Partners LLC acquired a new position in DISH Network during the second quarter worth $201,000. Institutional investors own 48.09% of the company’s stock.

About DISH Network

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

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Analyst Recommendations for DISH Network (NASDAQ:DISH)

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