Dish Network Corp. (DISH) Downgraded by Zacks Investment Research
According to Zacks, “Persistent loss of subscribers remains a headwind for DISH Network. Also, DISH's margins may face pressure if it is unable to renew its long-term programming contracts on favorable pricing and other economic terms. Further, DISH's failure to strike any deal with wireless operators to deploy a nationwide wireless network has been acting as a major headwind. However, DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator should aid the company’s performance as it has emerged as a strong alternative to counter the competitive threat from video streaming operators.”
DISH has been the subject of a number of other reports. Macquarie upped their price objective on shares of Dish Network Corp. from $62.00 to $66.00 and gave the stock an outperform rating in a research report on Friday, October 7th. Jefferies Group restated a buy rating and set a $80.00 price objective on shares of Dish Network Corp. in a research report on Friday, August 26th. Moffett Nathanson cut shares of Dish Network Corp. from a neutral rating to a sell rating and set a $40.00 price objective for the company. in a research report on Tuesday, June 28th. They noted that the move was a valuation call. Royal Bank Of Canada upped their price objective on shares of Dish Network Corp. from $50.00 to $56.00 and gave the stock a sector perform rating in a research report on Friday, July 22nd. Finally, TheStreet upgraded shares of Dish Network Corp. from a hold rating to a buy rating in a research report on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $66.46.
Shares of Dish Network Corp. (NASDAQ:DISH) opened at 56.62 on Friday. The firm has a 50-day moving average of $53.48 and a 200-day moving average of $50.85. Dish Network Corp. has a one year low of $38.85 and a one year high of $65.49. The company has a market capitalization of $26.32 billion, a P/E ratio of 30.25 and a beta of 0.85.
In related news, insider Carl E. Vogel sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 49.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Dish Network Corp. by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 22,728,671 shares of the company’s stock worth $1,190,983,000 after buying an additional 636,960 shares during the last quarter. Dodge & Cox boosted its stake in Dish Network Corp. by 23.7% in the first quarter. Dodge & Cox now owns 14,120,430 shares of the company’s stock worth $653,211,000 after buying an additional 2,707,650 shares during the last quarter. Vanguard Group Inc. boosted its stake in Dish Network Corp. by 2.1% in the second quarter. Vanguard Group Inc. now owns 9,645,533 shares of the company’s stock worth $505,426,000 after buying an additional 195,689 shares during the last quarter. Franklin Resources Inc. boosted its stake in Dish Network Corp. by 153,552.3% in the second quarter. Franklin Resources Inc. now owns 6,914,355 shares of the company’s stock worth $362,313,000 after buying an additional 6,909,855 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Dish Network Corp. by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,429,903 shares of the company’s stock worth $284,527,000 after buying an additional 63,853 shares during the last quarter. 45.36% of the stock is currently owned by institutional investors.
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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