EchoStar (NASDAQ:SATS) Issues Earnings Results, Misses Expectations By $0.23 EPS

EchoStar (NASDAQ:SATS) released its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23), Briefing.com reports. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.07 billion. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share.

EchoStar Trading Up 0.7 %

SATS stock traded up $0.11 during midday trading on Thursday, reaching $15.56. The stock had a trading volume of 1,903,478 shares, compared to its average volume of 2,303,566. EchoStar has a twelve month low of $9.53 and a twelve month high of $24.80. The business has a fifty day simple moving average of $14.46 and a two-hundred day simple moving average of $13.62. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -2.21 and a beta of 0.62.

Insider Buying and Selling

In other EchoStar news, Director James Defranco bought 110,000 shares of the stock in a transaction on Friday, March 8th. The stock was purchased at an average price of $13.48 per share, with a total value of $1,482,800.00. Following the acquisition, the director now owns 306,951 shares of the company’s stock, valued at $4,137,699.48. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 55.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SATS shares. StockNews.com assumed coverage on shares of EchoStar in a research report on Saturday, April 13th. They set a “sell” rating for the company. JPMorgan Chase & Co. started coverage on EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price target on the stock. TD Cowen cut their price objective on EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. UBS Group raised their target price on EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, EchoStar has a consensus rating of “Hold” and an average target price of $23.00.

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.