EchoStar Co. (NASDAQ:SATS - Get Free Report)'s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $30.58 and last traded at $30.50, with a volume of 1020893 shares trading hands. The stock had previously closed at $29.01.
The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $1.87. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion.
Analysts Set New Price Targets
A number of brokerages recently issued reports 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 report on Monday, January 13th. TD Cowen dropped their price objective on shares of EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. StockNews.com raised shares of EchoStar to a "sell" rating in a report on Saturday, November 9th. Finally, Morgan Stanley began coverage on shares of EchoStar in a report on Monday, December 16th. They issued an "equal weight" rating and a $25.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $23.75.
Get Our Latest Analysis on EchoStar
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Xponance Inc. lifted its position in EchoStar by 8.7% in the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock valued at $201,000 after buying an additional 701 shares during the last quarter. Captrust Financial Advisors lifted its position in EchoStar by 3.7% in the third quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider's stock valued at $536,000 after buying an additional 772 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in EchoStar by 2.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider's stock valued at $1,090,000 after buying an additional 941 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after buying an additional 1,151 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in EchoStar by 7.3% in the fourth quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider's stock valued at $403,000 after buying an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.
EchoStar Price Performance
The stock's 50-day simple moving average is $26.53 and its 200 day simple moving average is $24.54. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a market cap of $8.45 billion, a price-to-earnings ratio of -3.39 and a beta of 0.72.
EchoStar Company Profile
(
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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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