Echostar (NASDAQ:SATS) Issues Earnings Results, Misses Estimates By $0.17 EPS

Echostar (NASDAQ:SATS) issued its quarterly earnings data on Thursday. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17), Briefing.com reports. Echostar had a positive return on equity of 0.87% and a negative net margin of 0.20%. The business had revenue of $537.12 million during the quarter, compared to the consensus estimate of $538.80 million. During the same period last year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.

NASDAQ SATS traded down $0.59 on Friday, reaching $39.37. 471,752 shares of the stock traded hands, compared to its average volume of 434,323. The stock’s fifty day moving average price is $44.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.68 and a current ratio of 2.73. The company has a market capitalization of $3.77 billion, a P/E ratio of 103.61 and a beta of 0.76. Echostar has a 12 month low of $33.58 and a 12 month high of $49.93.

A number of equities analysts recently issued reports on the company. BidaskClub lowered Echostar from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Zacks Investment Research lowered Echostar from a “buy” rating to a “hold” rating in a report on Saturday. Daiwa Capital Markets lowered Echostar from an “outperform” rating to a “neutral” rating in a report on Friday, May 17th. Finally, Raymond James decreased their price target on Echostar from $67.00 to $62.00 and set a “strong-buy” rating for the company in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Echostar currently has a consensus rating of “Buy” and an average price target of $57.00.

In other Echostar news, CEO Michael T. Dugan sold 50,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $42.89, for a total transaction of $2,144,500.00. Following the completion of the transaction, the chief executive officer now directly owns 75,146 shares of the company’s stock, valued at approximately $3,223,011.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 51.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SATS. California Public Employees Retirement System boosted its stake in shares of Echostar by 3.5% during the 1st quarter. California Public Employees Retirement System now owns 115,158 shares of the communications equipment provider’s stock worth $4,198,000 after acquiring an additional 3,927 shares in the last quarter. Boston Partners purchased a new stake in shares of Echostar in the first quarter valued at $2,822,000. Weiss Asset Management LP purchased a new stake in shares of Echostar in the first quarter valued at $1,731,000. Barings LLC purchased a new stake in shares of Echostar in the first quarter valued at $230,000. Finally, Norges Bank purchased a new stake in shares of Echostar in the fourth quarter valued at $20,726,000. 47.49% of the stock is owned by hedge funds and other institutional investors.

Echostar Company Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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Earnings History for Echostar (NASDAQ:SATS)

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