EchoStar (NASDAQ:SATS) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of EchoStar (NASDAQ:SATS) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the communications equipment provider’s stock.

Other research analysts also recently issued research reports about the company. TD Cowen lowered their target price on EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. UBS Group boosted their target price on EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. started coverage on EchoStar in a research note on Wednesday, January 17th. They set a “neutral” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

EchoStar Trading Up 1.7 %

SATS opened at $14.25 on Thursday. EchoStar has a twelve month low of $9.53 and a twelve month high of $24.80. The company has a 50-day simple moving average of $13.61 and a 200 day simple moving average of $13.87. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -2.05 and a beta of 0.68.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.02 by $1.19. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The business had revenue of $4.16 billion during the quarter. During the same period in the prior year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 732.2% compared to the same quarter last year. Analysts predict that EchoStar will post -1.11 EPS for the current fiscal year.

Insider Activity

In other news, Director James Defranco acquired 110,000 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $13.48 per share, with a total value of $1,482,800.00. Following the completion of the purchase, the director now directly owns 306,951 shares of the company’s stock, valued at approximately $4,137,699.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 55.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of EchoStar by 126.6% in the second quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 809 shares during the period. Russell Investments Group Ltd. acquired a new stake in EchoStar during the 1st quarter valued at approximately $34,000. Quarry LP acquired a new stake in EchoStar during the 4th quarter valued at approximately $41,000. Quest Partners LLC acquired a new stake in EchoStar during the 4th quarter valued at approximately $42,000. Finally, Federated Hermes Inc. increased its position in EchoStar by 95.0% during the 3rd quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 1,377 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.