DISH Network Corporation (DISH) Bonds Drop 1.4% During Trading Analyst
An issue of DISH Network Corporation (NASDAQ:DISH) bonds fell 1.4% against their face value during trading on Tuesday after HSBC Holdings plc lowered their price target on the stock from $62.00 to $52.00. The high-yield debt issue has a 5.875% coupon and is set to mature on November 15, 2024. The debt is now trading at $101.38 and was trading at $105.13 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.
Several other equities research analysts have also issued reports on DISH. BidaskClub lowered DISH Network Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, August 6th. Telsey Advisory Group dropped their price target on DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. Moffett Nathanson reaffirmed a “sell” rating and set a $37.00 price target (down previously from $45.00) on shares of DISH Network Corporation in a research note on Tuesday, September 26th. TheStreet lowered DISH Network Corporation from a “b” rating to a “c+” rating in a research note on Thursday, August 3rd. Finally, Macquarie reaffirmed a “hold” rating and set a $60.00 price target (down previously from $68.00) on shares of DISH Network Corporation in a research note on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. DISH Network Corporation presently has an average rating of “Hold” and an average price target of $67.38.
In other DISH Network Corporation news, EVP Jeffrey L. Mcschooler sold 785 shares of the company’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 transaction, the executive vice president now owns 165 shares in the company, valued at approximately $9,340.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.73, for a total value of $1,493,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,110 shares of company stock worth $1,555,296. 49.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of DISH Network Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,678,892 shares of the company’s stock worth $921,246,000 after acquiring an additional 409,704 shares during the period. BlackRock Inc. grew its holdings in shares of DISH Network Corporation by 1.9% during the 2nd quarter. BlackRock Inc. now owns 13,685,941 shares of the company’s stock worth $858,929,000 after acquiring an additional 259,139 shares during the period. FMR LLC grew its holdings in shares of DISH Network Corporation by 22.7% during the 2nd quarter. FMR LLC now owns 4,498,307 shares of the company’s stock worth $282,314,000 after acquiring an additional 831,768 shares during the period. Paulson & CO. Inc. grew its holdings in shares of DISH Network Corporation by 15.9% during the 2nd quarter. Paulson & CO. Inc. now owns 3,998,800 shares of the company’s stock worth $250,965,000 after acquiring an additional 548,700 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of DISH Network Corporation by 184.5% during the 2nd quarter. American Century Companies Inc. now owns 1,430,365 shares of the company’s stock worth $89,770,000 after acquiring an additional 927,537 shares during the period. Hedge funds and other institutional investors own 48.92% of the company’s stock.
The stock has a market cap of $22.77 billion, a PE ratio of 22.72 and a beta of 0.99. The firm has a 50-day moving average price of $54.01 and a 200-day moving average price of $60.48.
DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.67). The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.71 billion. DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. Analysts expect that DISH Network Corporation will post $2.15 earnings per share for the current fiscal year.
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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