Recent Analysts’ Ratings Updates for DISH Network (DISH)

DISH Network (NASDAQ: DISH) recently received a number of ratings updates from brokerages and research firms:

  • 11/19/2018 – DISH Network was given a new $40.00 price target on by analysts at Royal Bank of Canada. They now have a “hold” rating on the stock.
  • 11/13/2018 – DISH Network was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “DISH is hurt by subscriber loss in the Pay-TV business, primarily due to stiff competition and cord-cutting. Moreover, Sling TV subscriber base is increasing, but at a much slower rate. These factors negatively impacted top-line growth. Churn rate also increased in the third-quarter due to unavailability of Univision’s certain channels. Additionally, escalating programming and content expenses, retransmission fees and failure to strike any deal with wireless operators are major concerns. Nevertheless, DISH’s efforts to diversify its business from being a pure-play satellite-TV operator to an Internet TV operator is expected to help it counter competitive threats from low-cost video streaming operators. Moreover, DISH’s focus on acquiring and retaining subscribers that are profitable over the long term, is paying off.”
  • 11/11/2018 – DISH Network had its “sell” rating reaffirmed by analysts at Macquarie. They now have a $30.00 price target on the stock.
  • 11/8/2018 – DISH Network had its price target lowered by analysts at JPMorgan Chase & Co. to $40.00. They now have an “overweight” rating on the stock.
  • 11/8/2018 – DISH Network had its price target lowered by analysts at SunTrust Banks, Inc. to $35.00. They now have a “hold” rating on the stock.
  • 11/2/2018 – DISH Network was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 11/2/2018 – DISH Network had its price target lowered by analysts at Pivotal Research from $40.00 to $37.00. They now have a “buy” rating on the stock. They wrote, “We continue to see potential issues with DISH retiring its core DBS 6 ¾% Senior due 2021 (and we see them scraping by their 5.125% Senior notes due 2020 with the cash from the core DBS business) = in early 2021 DISH may have to decide if they are going to hand the keys to DBS to bondholders or tap into the leveragability available at the DISH parent (where most of the spectrum value resides). We remind investors most of DISH’s debt is non-recourse to the DISH parent company where most of DISH spectrum resides + material cash. If we value the spectrum at cost, and assume DISH’s hands the DBS business to bondholders (valuing DBS at zero), our target would be $45 (not including potential reinstatement of DE discounts). 2H’19 should be an interesting for DISH as we should finally find out what Ergen plans on doing with his vast spectrum holdings.””
  • 10/24/2018 – DISH Network was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $50.00 price target on the stock, up previously from $32.00.
  • 10/23/2018 – DISH Network was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating. They now have a $31.00 price target on the stock, down previously from $36.00.

NASDAQ DISH traded up $1.44 on Monday, reaching $32.11. The company had a trading volume of 2,608,100 shares, compared to its average volume of 2,929,986. The firm has a market capitalization of $14.34 billion, a P/E ratio of 12.64 and a beta of 1.25. DISH Network Corp has a 52-week low of $27.54 and a 52-week high of $52.53. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 1.67.

DISH Network (NASDAQ:DISH) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.15. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.40 billion. DISH Network had a return on equity of 20.26% and a net margin of 19.01%. DISH Network’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. As a group, sell-side analysts predict that DISH Network Corp will post 2.85 EPS for the current fiscal year.

In related news, insider James Defranco purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The stock was acquired at an average cost of $34.99 per share, with a total value of $174,950.00. Following the transaction, the insider now owns 1,203,529 shares of the company’s stock, valued at approximately $42,111,479.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 130,000 shares of company stock valued at $4,172,350 over the last three months. 49.20% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of DISH Network by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 18,882,286 shares of the company’s stock valued at $675,230,000 after purchasing an additional 268,390 shares during the last quarter. Dodge & Cox increased its position in shares of DISH Network by 13.9% during the 3rd quarter. Dodge & Cox now owns 18,756,046 shares of the company’s stock valued at $670,716,000 after purchasing an additional 2,291,800 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of DISH Network by 3.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,407,967 shares of the company’s stock valued at $114,542,000 after purchasing an additional 112,586 shares during the last quarter. Northern Trust Corp increased its position in shares of DISH Network by 1.7% during the 2nd quarter. Northern Trust Corp now owns 2,573,324 shares of the company’s stock valued at $86,489,000 after purchasing an additional 42,083 shares during the last quarter. Finally, Key Square Capital Management LLC increased its position in shares of DISH Network by 8.7% during the 3rd quarter. Key Square Capital Management LLC now owns 2,322,433 shares of the company’s stock valued at $83,050,000 after purchasing an additional 185,500 shares during the last quarter. 47.68% of the stock is owned by hedge funds and other institutional investors.

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

Further Reading: Balanced Fund

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