Analysts Set EchoStar Corporation (NASDAQ:SATS) Price Target at $75.20

Shares of EchoStar Corporation (NASDAQ:SATS) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $75.20.

A number of research analysts have commented on the company. Morgan Stanley boosted their price objective on EchoStar from $59.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on EchoStar in a research note on Tuesday, September 9th. Zacks Research upgraded EchoStar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. TD Cowen boosted their price objective on EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Finally, Cowen restated a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 233,918 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the sale, the chief executive officer owned 376,805 shares in the company, valued at $28,392,256.75. This represents a 38.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Paul Gaske sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $80.25, for a total value of $3,611,250.00. Following the sale, the chief operating officer owned 1,593 shares in the company, valued at $127,838.25. The trade was a 96.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 460,740 shares of company stock worth $35,967,480. Company insiders own 55.70% of the company’s stock.

Institutional Trading of EchoStar

Several institutional investors and hedge funds have recently bought and sold shares of SATS. Farther Finance Advisors LLC raised its stake in EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 975 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of EchoStar during the 2nd quarter worth approximately $73,000. GAMMA Investing LLC raised its position in shares of EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 976 shares during the period. Brooklyn Investment Group raised its position in shares of EchoStar by 70,980.0% during the 1st quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock worth $91,000 after purchasing an additional 3,549 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in EchoStar during the 1st quarter valued at approximately $102,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Performance

EchoStar stock opened at $74.12 on Wednesday. The stock’s 50-day moving average is $66.89 and its 200-day moving average is $39.37. The company has a market cap of $21.33 billion, a price-to-earnings ratio of -70.59 and a beta of 0.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. EchoStar has a 12 month low of $14.90 and a 12 month high of $85.37.

EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.06. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. Equities analysts anticipate that EchoStar will post -1.99 earnings per share for the current year.

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.