FIL Ltd grew its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 139.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 601,250 shares of the communications equipment provider's stock after buying an additional 350,650 shares during the period. FIL Ltd owned 0.22% of EchoStar worth $13,769,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SATS. Vanguard Group Inc. boosted its holdings in EchoStar by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider's stock valued at $314,594,000 after acquiring an additional 88,488 shares during the last quarter. State Street Corp raised its stake in shares of EchoStar by 1.3% during the third quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider's stock worth $118,546,000 after buying an additional 62,674 shares during the last quarter. American Century Companies Inc. lifted its holdings in EchoStar by 1.0% in the fourth quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider's stock valued at $68,518,000 after buying an additional 28,779 shares during the period. Invesco Ltd. boosted its stake in EchoStar by 26.0% in the fourth quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock valued at $52,701,000 after acquiring an additional 474,313 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in EchoStar by 15.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock worth $23,354,000 after acquiring an additional 133,819 shares during the period. Institutional investors own 33.62% of the company's stock.
EchoStar Trading Up 1.1 %
Shares of SATS traded up $0.24 during trading hours on Tuesday, reaching $22.98. The stock had a trading volume of 1,250,757 shares, compared to its average volume of 1,731,946. The company has a market cap of $6.58 billion, a P/E ratio of -2.51 and a beta of 0.72. EchoStar Co. has a 52 week low of $13.49 and a 52 week high of $32.48. 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 firm has a 50-day moving average of $26.71 and a 200 day moving average of $25.37.
EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. On average, sell-side analysts expect that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. UBS Group raised their price target on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Morgan Stanley began coverage on EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, EchoStar presently has a consensus rating of "Hold" and an average target price of $23.75.
Read Our Latest Analysis on SATS
About EchoStar
(
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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