Dish Network Corp. (DISH) Trading Down 5.2%
Dish Network Corp. (NASDAQ:DISH)’s share price fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $49.60 and last traded at $50.72, with a volume of 7,879,274 shares trading hands. The stock had previously closed at $53.48.
Several research firms have recently issued reports on DISH. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Dish Network Corp. in a research note on Saturday, June 4th. Macquarie reissued a “hold” rating and set a $62.00 target price on shares of Dish Network Corp. in a research note on Tuesday, May 31st. Jefferies Group reissued a “buy” rating and set a $50.73 target price (down previously from $80.00) on shares of Dish Network Corp. in a research note on Friday, June 3rd. Telsey Advisory Group lowered their target price on shares of Dish Network Corp. from $69.00 to $62.00 and set a “market perform” rating for the company in a research note on Monday, July 25th. Finally, Morgan Stanley reissued a “hold” rating on shares of Dish Network Corp. in a research note on Tuesday, April 26th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $67.82.
The firm has a 50-day moving average of $52.34 and a 200-day moving average of $48.75. The stock has a market cap of $22.87 billion and a price-to-earnings ratio of 26.28.
Dish Network Corp. (NASDAQ:DISH) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.17. The business earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.86 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. On average, equities analysts predict that Dish Network Corp. will post $3.03 EPS for the current year.
In related news, EVP R Stanton Dodge sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $48.79, for a total value of $975,800.00. Following the transaction, the executive vice president now owns 20,637 shares of the company’s stock, valued at $1,006,879.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Other institutional investors have bought and sold shares of the company. Vanguard Group Inc. increased its position in Dish Network Corp. by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 9,376,474 shares of the company’s stock worth $536,147,000 after buying an additional 254,115 shares during the last quarter. Morgan Stanley increased its position in Dish Network Corp. by 132.1% in the fourth quarter. Morgan Stanley now owns 1,338,252 shares of the company’s stock worth $76,522,000 after buying an additional 761,722 shares during the last quarter. BlackRock Advisors LLC increased its position in Dish Network Corp. by 23.8% in the fourth quarter. BlackRock Advisors LLC now owns 1,326,952 shares of the company’s stock worth $75,875,000 after buying an additional 254,751 shares during the last quarter. Water Island Capital increased its position in Dish Network Corp. by 15.1% in the third quarter. Water Island Capital now owns 167,151 shares of the company’s stock worth $9,752,000 after buying an additional 21,881 shares during the last quarter. Finally, I.G. Investment Management LTD. increased its position in Dish Network Corp. by 1.5% in the fourth quarter. I.G. Investment Management LTD. now owns 63,436 shares of the company’s stock worth $3,627,000 after buying an additional 949 shares during the last quarter.
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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