Shares of Echostar Co. (NASDAQ:SATS) have been given a consensus broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus target price of $67.00 for the company and are forecasting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also assigned Echostar an industry rank of 193 out of 265 based on the ratings given to related companies.
SATS has been the topic of a number of recent research reports. Zacks Investment Research raised Echostar from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Citigroup Inc dropped their price objective on Echostar from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, March 24th.
Shares of Echostar (NASDAQ:SATS) traded up 0.47% during trading on Monday, reaching $57.34. 54,762 shares of the company traded hands. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 29.86 and a beta of 0.68. Echostar has a 1-year low of $36.43 and a 1-year high of $57.50. The stock’s 50 day moving average is $55.21 and its 200 day moving average is $51.86.
Echostar (NASDAQ:SATS) last released its earnings results on Friday, February 24th. The communications equipment provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. The business had revenue of $740.40 million for the quarter, compared to analyst estimates of $742.28 million. Echostar had a return on equity of 5.28% and a net margin of 6.60%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, analysts forecast that Echostar will post $0.99 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its position in shares of Echostar by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 755,000 shares of the communications equipment provider’s stock worth $33,092,000 after buying an additional 40,000 shares in the last quarter. New Jersey Better Educational Savings Trust raised its position in shares of Echostar by 18.2% in the third quarter. New Jersey Better Educational Savings Trust now owns 13,000 shares of the communications equipment provider’s stock worth $570,000 after buying an additional 2,000 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Echostar during the third quarter worth $675,000. First Trust Advisors LP raised its position in shares of Echostar by 17.4% in the third quarter. First Trust Advisors LP now owns 44,785 shares of the communications equipment provider’s stock worth $1,963,000 after buying an additional 6,652 shares in the last quarter. Finally, Three Peaks Capital Management LLC raised its position in shares of Echostar by 5.8% in the third quarter. Three Peaks Capital Management LLC now owns 75,674 shares of the communications equipment provider’s stock worth $3,317,000 after buying an additional 4,157 shares in the last quarter. 44.28% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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