Principal Financial Group Inc. boosted its stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,990 shares of the communications equipment provider's stock after acquiring an additional 16,999 shares during the quarter. Principal Financial Group Inc. owned 0.22% of EchoStar worth $13,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Darsana Capital Partners LP boosted its stake in shares of EchoStar by 44.8% during the third quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider's stock valued at $74,460,000 after purchasing an additional 927,695 shares during the period. Stonehill Capital Management LLC bought a new stake in EchoStar during the 3rd quarter valued at $9,235,000. Van ECK Associates Corp boosted its position in EchoStar by 309.6% during the 4th quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider's stock valued at $3,048,000 after buying an additional 100,608 shares during the period. State Street Corp boosted its position in EchoStar by 1.3% during the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider's stock valued at $118,546,000 after buying an additional 62,674 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in EchoStar in the 3rd quarter worth $1,230,000. 33.62% of the stock is currently owned by institutional investors.
EchoStar Trading Up 2.7 %
Shares of NASDAQ SATS traded up $0.82 during midday trading on Friday, hitting $31.23. 4,398,608 shares of the company traded hands, compared to its average volume of 1,803,423. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar Co. has a 12-month low of $11.83 and a 12-month high of $31.59. The stock has a 50-day moving average price of $26.53 and a 200 day moving average price of $24.45. The firm has a market cap of $8.49 billion, a P/E ratio of -3.41 and a beta of 0.72.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of ($0.63) by $1.87. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. As a group, analysts expect that EchoStar Co. will post -1.99 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently commented on SATS. UBS Group upped their price objective on shares of EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price target for the company. StockNews.com upgraded EchoStar to a "sell" rating in a research report on Saturday, November 9th. Finally, TD Cowen decreased their target price on EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.75.
Check Out Our Latest Research Report on SATS
EchoStar Company Profile
(
Free Report)
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.
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