EchoStar (NASDAQ:SATS) Price Target Cut to $37.00 by Analysts at TD Cowen

EchoStar (NASDAQ:SATS) had its price objective reduced by TD Cowen from $38.00 to $37.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the communications equipment provider’s stock.

Several other analysts also recently weighed in on SATS. StockNews.com upgraded shares of EchoStar to a sell rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reiterated an underweight rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $21.83.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $15.59 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99. EchoStar has a fifty-two week low of $9.53 and a fifty-two week high of $23.55. The business has a 50 day moving average price of $18.62 and a two-hundred day moving average price of $16.14. The firm has a market cap of $4.23 billion, a PE ratio of -2.01 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. EchoStar had a negative net margin of 23.47% and a positive return on equity of 2.26%. The company’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. Sell-side analysts expect that EchoStar will post -1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EchoStar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp grew its position in EchoStar by 263.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 76,407 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of EchoStar in the 1st quarter worth approximately $398,000. P Schoenfeld Asset Management LP bought a new position in EchoStar in the fourth quarter worth $3,782,000. Vanguard Group Inc. boosted its position in shares of EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after acquiring an additional 9,661,167 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in EchoStar during the first quarter worth about $511,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Company Profile

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.