EchoStar Corp. (NASDAQ:SATS) was down 1.9% during mid-day trading on Thursday . The stock traded as low as $37.25 and last traded at $37.46, with a volume of 89,460 shares traded. The stock had previously closed at $38.19.

A number of brokerages recently issued reports on SATS. Zacks Investment Research cut EchoStar Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. Macquarie reaffirmed an “outperform” rating and set a $55.00 price objective on shares of EchoStar Corp. in a research note on Friday, July 8th. Finally, TheStreet cut EchoStar Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th.

The firm has a 50-day moving average price of $38.68 and a 200 day moving average price of $40.04. The stock has a market capitalization of $3.49 billion and a P/E ratio of 19.27.

EchoStar Corp. (NASDAQ:SATS) last issued its earnings results on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.17. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company earned $757.60 million during the quarter, compared to the consensus estimate of $766.99 million. EchoStar Corp.’s revenue was down 4.6% on a year-over-year basis. Equities research analysts anticipate that EchoStar Corp. will post $1.77 earnings per share for the current year.

An institutional investor recently raised its position in EchoStar Corp. stock. State of New Jersey Common Pension Fund D increased its position in EchoStar Corp. (NASDAQ:SATS) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 635,000 shares of the company’s stock after buying an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.69% of EchoStar Corp. worth $24,835,000 at the end of the most recent reporting period.

EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.

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