Zacks Investment Research Lowers DISH Network (DISH) to Sell
DISH Network (NASDAQ:DISH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “DISH Network continues to lose subscribers due to stiff competition and cord-cutting. The company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 5.4% as against the industry's gain of 2.2%. On the flip side, we appreciate DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. Launch of a mobile app, DISH Music bode well. Moreover, DISH Network is looking for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion.”
A number of other equities research analysts have also recently weighed in on the company. Jefferies Group reiterated a “buy” rating and issued a $80.00 price objective on shares of DISH Network in a research note on Monday, September 25th. Deutsche Bank reiterated a “buy” rating and issued a $99.00 price objective on shares of DISH Network in a research note on Thursday, October 5th. Pivotal Research upgraded DISH Network from a “hold” rating to a “buy” rating and reduced their price objective for the company from $68.00 to $65.00 in a research note on Monday, November 6th. Morgan Stanley reiterated a “buy” rating and issued a $75.00 price objective on shares of DISH Network in a research note on Tuesday, October 17th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $60.00 price objective on shares of DISH Network in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. DISH Network currently has an average rating of “Hold” and an average target price of $63.92.
DISH Network (DISH) opened at $48.90 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $22,800.00, a P/E ratio of 23.07, a P/E/G ratio of 2.24 and a beta of 1.09. DISH Network has a fifty-two week low of $46.07 and a fifty-two week high of $66.50.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.60 billion. DISH Network had a net margin of 7.22% and a return on equity of 25.97%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. equities analysts anticipate that DISH Network will post 1.98 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Ray Gerald L & Associates Ltd. raised its stake in shares of DISH Network by 113.6% during the third quarter. Ray Gerald L & Associates Ltd. now owns 12,600 shares of the company’s stock worth $683,000 after purchasing an additional 6,700 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of DISH Network by 33.9% during the third quarter. Quantitative Systematic Strategies LLC now owns 5,683 shares of the company’s stock worth $308,000 after purchasing an additional 1,439 shares during the last quarter. Lucha Capital Management LP purchased a new stake in shares of DISH Network during the second quarter worth approximately $10,857,000. Chevy Chase Trust Holdings Inc. raised its stake in shares of DISH Network by 1.3% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 199,017 shares of the company’s stock worth $10,793,000 after purchasing an additional 2,599 shares during the last quarter. Finally, Sirios Capital Management L P raised its stake in shares of DISH Network by 101.2% during the third quarter. Sirios Capital Management L P now owns 787,708 shares of the company’s stock worth $42,718,000 after purchasing an additional 396,290 shares during the last quarter. Institutional investors and hedge funds own 48.54% of the company’s stock.
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DISH Network Company Profile
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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