Echostar CORP (ECHO) – What Are Researchers Thinking About This Stock?

Echostar CORP (NASDAQ:ECHO) has been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $139.44.

ECHO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. UBS Group increased their price objective on Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. JPMorgan Chase & Co. began coverage on shares of Echostar in a research note on Friday, October 16th. They issued an “overweight” rating and a $144.00 target price on the stock. Finally, Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Friday, July 17th.

Insider Transactions at Echostar

In related news, Director William Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the transaction, the director directly owned 2,749 shares of the company’s stock, valued at $254,694.85. This trade represents a 48.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.60% of the stock is owned by corporate insiders.

Institutional Trading of Echostar

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC acquired a new position in shares of Echostar in the 2nd quarter worth approximately $159,344,000. Tema ETFs LLC boosted its stake in Echostar by 83,917.0% in the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after purchasing an additional 1,537,359 shares in the last quarter. Van ECK Associates Corp acquired a new position in Echostar in the second quarter worth $139,004,000. Bank of America Corp DE grew its holdings in shares of Echostar by 42.4% during the first quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock worth $125,183,000 after purchasing an additional 318,248 shares during the last quarter. Finally, Atreides Management LP grew its holdings in shares of Echostar by 11.0% during the first quarter. Atreides Management LP now owns 1,000,346 shares of the company’s stock worth $117,111,000 after purchasing an additional 99,262 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Stock Up 5.2%

Shares of ECHO opened at $94.62 on Friday. The company has a market capitalization of $27.49 billion, a PE ratio of 3.45 and a beta of 1.06. The company has a current ratio of 10.16, a quick ratio of 5.12 and a debt-to-equity ratio of 0.57. Echostar has a 12 month low of $65.76 and a 12 month high of $147.25. The business’s 50-day simple moving average is $92.00.

Echostar (NASDAQ:ECHO) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a return on equity of 22.85% and a net margin of 81.29%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Equities research analysts expect that Echostar will post -0.13 EPS for the current fiscal year.

Echostar Company Profile

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.

The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.

Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.