Dish Network Corp. (DISH) Price Target Increased to $66.00 by Analysts at Macquarie
Dish Network Corp. (NASDAQ:DISH) had its price target increased by Macquarie from $62.00 to $66.00 in a research report sent to investors on Friday. Macquarie currently has an outperform rating on the stock.
A number of other equities analysts also recently commented on the stock. TheStreet raised shares of Dish Network Corp. from a hold rating to a buy rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of Dish Network Corp. from a hold rating to a strong-buy rating and set a $60.00 price target on the stock in a research note on Wednesday, September 21st. Moffett Nathanson downgraded shares of Dish Network Corp. from a neutral rating to a sell rating and set a $40.00 price target on the stock. in a research note on Tuesday, June 28th. They noted that the move was a valuation call. Credit Suisse Group AG set a $57.00 price target on shares of Dish Network Corp. and gave the company a hold rating in a research note on Wednesday, July 27th. Finally, Jefferies Group reissued a buy rating and issued a $80.00 price target on shares of Dish Network Corp. in a research note on Friday, August 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $66.46.
Shares of Dish Network Corp. (NASDAQ:DISH) traded up 0.67% during midday trading on Friday, reaching $55.82. 244,932 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $52.15 and its 200 day moving average price is $50.38. Dish Network Corp. has a 1-year low of $38.85 and a 1-year high of $65.49. The stock has a market capitalization of $25.95 billion, a P/E ratio of 29.82 and a beta of 0.84.
Dish Network Corp. (NASDAQ:DISH) last issued its earnings results on Thursday, July 21st. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.17. Dish Network Corp. had a net margin of 5.75% and a return on equity of 42.01%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. Dish Network Corp.’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Dish Network Corp. will post $3.08 earnings per share for the current fiscal year.
In related news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $53.54, for a total value of $1,606,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 49.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC acquired a new stake in Dish Network Corp. during the second quarter valued at approximately $126,000. Bessemer Group Inc. acquired a new stake in Dish Network Corp. during the second quarter valued at approximately $128,000. Northwestern Mutual Wealth Management Co. increased its stake in Dish Network Corp. by 306.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock valued at $128,000 after buying an additional 1,841 shares during the period. Invictus RG acquired a new stake in Dish Network Corp. during the first quarter valued at approximately $161,000. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Dish Network Corp. by 109.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,165 shares of the company’s stock valued at $166,000 after buying an additional 1,652 shares during the period. Hedge funds and other institutional investors own 45.34% of the company’s stock.
About Dish Network Corp.
DISH Network Corporation is a holding company. The Company operates through two segments: DISH and Wireless. It offers Pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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