Echostar CORP (NASDAQ:ECHO) Stock Has Consensus Price Target of $137.88

Shares of Echostar CORP (NASDAQ:ECHO) have received an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $137.88.

A number of brokerages have recently weighed in on ECHO. TD Cowen cut their target price on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Citigroup reduced their target price on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. New Street Research set a $165.00 price target on Echostar in a research report on Monday, June 15th. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a report on Friday, July 17th.

Insiders Place Their Bets

In other Echostar news, Director William Wade sold 2,575 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the transaction, the director owned 2,749 shares in the company, valued at $254,694.85. This represents a 48.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bye sold 8,508 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This represents a 92.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,508 shares of company stock valued at $1,224,686 in the last 90 days. Corporate insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Echostar

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Echostar by 12.5% in the third quarter. GAMMA Investing LLC now owns 4,256 shares of the company’s stock valued at $381,000 after purchasing an additional 473 shares during the period. Venture Visionary Partners LLC boosted its holdings in Echostar by 1.1% in the 3rd quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company’s stock worth $1,058,000 after buying an additional 123 shares during the period. Two Seas Capital LP boosted its holdings in Echostar by 8.3% in the 3rd quarter. Two Seas Capital LP now owns 544,646 shares of the company’s stock worth $48,697,000 after buying an additional 41,671 shares during the period. QRG Capital Management Inc. bought a new position in Echostar in the 2nd quarter worth approximately $223,000. Finally, Envestnet Asset Management Inc. purchased a new position in Echostar in the 2nd quarter valued at approximately $260,000. Institutional investors own 33.62% of the company’s stock.

Echostar Price Performance

ECHO opened at $94.84 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The firm’s 50-day moving average price is $90.70. Echostar has a fifty-two week low of $65.76 and a fifty-two week high of $147.25. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of -3.81 and a beta of 0.99.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $24.14. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) earnings per share. On average, equities research analysts expect that Echostar will post -1.35 earnings per share for the current year.

Echostar Company Profile

EchoStar Corporation is a communications and technology company that provides connectivity services through wireless, satellite, and broadband networks. Its businesses include Boost Mobile, a wireless service provider offering mobile voice, data, and broadband services, as well as satellite communications and related connectivity solutions for consumers, businesses, and government customers.

The company also operates through Hughes, which provides satellite internet, managed network services, and other broadband solutions, particularly for customers in areas with limited access to terrestrial communications infrastructure.