Dish Network Corp. (DISH) Sees Large Volume Increase
Dish Network Corp. (NASDAQ:DISH) shares saw an uptick in trading volume on Wednesday . 8,807,921 shares traded hands during mid-day trading, an increase of 186% from the previous session’s volume of 3,076,573 shares.The stock last traded at $50.94 and had previously closed at $49.19.
A number of brokerages have recently issued reports on DISH. JPMorgan Chase & Co. reissued a “buy” rating on shares of Dish Network Corp. in a report on Saturday, June 4th. Macquarie reissued a “hold” rating and issued a $62.00 target price on shares of Dish Network Corp. in a report on Tuesday, May 31st. Jefferies Group reissued a “buy” rating and issued a $50.73 target price (down from $80.00) on shares of Dish Network Corp. in a report on Friday, June 3rd. Telsey Advisory Group dropped their price target on Dish Network Corp. from $69.00 to $62.00 and set a “market perform” rating for the company in a report on Monday, July 25th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Dish Network Corp. in a report on Tuesday, April 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.82.
The firm has a market capitalization of $23.86 billion and a price-to-earnings ratio of 27.41. The company has a 50-day moving average price of $52.22 and a 200-day moving average price of $48.76.
Dish Network Corp. (NASDAQ:DISH) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.17. The firm earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Dish Network Corp. will post $3.05 EPS for the current fiscal year.
In other Dish Network Corp. news, EVP R Stanton Dodge sold 20,000 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $48.79, for a total value of $975,800.00. Following the completion of the sale, the executive vice president now owns 20,637 shares in the company, valued at approximately $1,006,879.23. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Other large investors have recently bought and sold shares of the company. Andra AP fonden raised its stake in Dish Network Corp. by 64.7% in the fourth quarter. Andra AP fonden now owns 25,700 shares of the company’s stock valued at $1,470,000 after buying an additional 10,100 shares during the period. GAM Holding AG raised its stake in Dish Network Corp. by 235.8% in the fourth quarter. GAM Holding AG now owns 26,145 shares of the company’s stock valued at $1,495,000 after buying an additional 18,358 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Dish Network Corp. by 7.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 28,179 shares of the company’s stock valued at $1,611,000 after buying an additional 1,995 shares during the period. Trexquant Investment LP raised its stake in Dish Network Corp. by 595.2% in the fourth quarter. Trexquant Investment LP now owns 29,200 shares of the company’s stock valued at $1,670,000 after buying an additional 25,000 shares during the period. Finally, Bank of Montreal Can raised its stake in Dish Network Corp. by 154.7% in the fourth quarter. Bank of Montreal Can now owns 34,052 shares of the company’s stock valued at $1,946,000 after buying an additional 20,681 shares during the period.
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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