DISH Network Corporation (DISH) Bonds Drop 1% During Trading
An issue of DISH Network Corporation (NASDAQ:DISH) debt fell 1% as a percentage of its face value during trading on Friday. The debt issue has a 5.875% coupon and is set to mature on November 15, 2024. The debt is now trading at $105.50 and was trading at $107.50 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
DISH has been the subject of several analyst reports. Royal Bank Of Canada set a $56.00 price target on shares of DISH Network Corporation and gave the company a “hold” rating in a research note on Saturday, May 20th. Wunderlich reissued a “sell” rating and issued a $54.00 price target on shares of DISH Network Corporation in a research note on Monday, June 12th. BidaskClub cut shares of DISH Network Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Wells Fargo & Company reissued an “outperform” rating on shares of DISH Network Corporation in a research note on Wednesday, June 28th. Finally, Citigroup Inc. cut shares of DISH Network Corporation from a “buy” rating to a “sell” rating and dropped their price target for the company from $94.00 to $52.00 in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $69.97.
Shares of DISH Network Corporation (DISH) traded down 0.23% during trading on Friday, reaching $52.95. 3,134,613 shares of the company’s stock traded hands. The stock has a 50-day moving average of $58.03 and a 200-day moving average of $61.89. DISH Network Corporation has a 1-year low of $51.76 and a 1-year high of $66.50. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 24.63 and a beta of 0.98.
DISH Network Corporation (NASDAQ:DISH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.67). DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. DISH Network Corporation’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that DISH Network Corporation will post $2.23 EPS for the current fiscal year.
In other DISH Network Corporation news, CEO Roger Lynch sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $59.73, for a total transaction of $1,493,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Mcschooler sold 785 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.61, for a total transaction of $44,438.85. Following the sale, the executive vice president now owns 165 shares of the company’s stock, valued at $9,340.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,885 shares of company stock valued at $1,544,018. 49.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp purchased a new stake in DISH Network Corporation during the second quarter worth approximately $6,544,000. Sentry Investment Management LLC grew its stake in DISH Network Corporation by 1.1% during the second quarter. Sentry Investment Management LLC now owns 17,877 shares of the company’s stock worth $1,122,000 after buying an additional 187 shares during the period. Toronto Dominion Bank grew its stake in DISH Network Corporation by 25.8% during the second quarter. Toronto Dominion Bank now owns 77,053 shares of the company’s stock worth $4,835,000 after buying an additional 15,823 shares during the period. Blockhouse Capital Management LP grew its stake in DISH Network Corporation by 45.8% during the second quarter. Blockhouse Capital Management LP now owns 127,600 shares of the company’s stock worth $8,008,000 after buying an additional 40,100 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of DISH Network Corporation by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 389,076 shares of the company’s stock valued at $24,418,000 after purchasing an additional 3,675 shares during the period. Institutional investors own 48.93% of the company’s stock.
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About DISH Network Corporation
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, 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 and Fixed Satellite Service 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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