Brokerages Set EchoStar Co. (NASDAQ:SATS) PT at $23.00

Shares of EchoStar Co. (NASDAQ:SATS) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.00.

Several research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. StockNews.com raised EchoStar to a “sell” rating in a report on Tuesday, July 2nd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in EchoStar by 125.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 802 shares during the last quarter. Eagle Bay Advisors LLC boosted its stake in EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 1,469 shares in the last quarter. Inspire Investing LLC boosted its stake in EchoStar by 10.6% in the first quarter. Inspire Investing LLC now owns 25,295 shares of the communications equipment provider’s stock worth $360,000 after purchasing an additional 2,431 shares in the last quarter. Quarry LP acquired a new stake in shares of EchoStar in the fourth quarter valued at $41,000. Finally, Quest Partners LLC bought a new position in shares of EchoStar in the fourth quarter valued at about $42,000. Institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

SATS opened at $18.94 on Friday. The stock’s 50 day simple moving average is $17.85 and its 200-day simple moving average is $15.50. The company has a current ratio of 0.44, a quick ratio of 0.35 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.14 billion, a PE ratio of -2.46 and a beta of 0.71. EchoStar has a 1 year low of $9.53 and a 1 year high of $24.80.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.23). The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.07 billion. EchoStar had a negative net margin of 23.47% and a positive return on equity of 2.26%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Sell-side analysts forecast that EchoStar will post -1.5 EPS for the current year.

About EchoStar

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.