According to Zacks, “DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator should aid the company’s performance as it has emerged as a strong alternative to counter the competitive threat from video streaming operators. Further, DISH Network is poised to benefit from its recent launch of a new version of its Internet TV service — Sling TV, which will allow subscribers to stream on up to three different devices simultaneously for $20 a month. However, persistent loss of subscribers remains a headwind for DISH Network. Also, DISH's margins may face pressure if it is unable to renew its long-term programming contracts on favorable pricing and other economic terms.”
Other analysts have also recently issued reports about the company. Jefferies Group reissued a buy rating and issued a $80.00 price target on shares of Dish Network Corp. in a report on Friday, July 22nd. JPMorgan Chase & Co. reissued a buy rating on shares of Dish Network Corp. in a report on Saturday, June 4th. Wells Fargo & Co. reissued a buy rating and issued a $119.00 price target on shares of Dish Network Corp. in a report on Friday, June 3rd. TheStreet raised Dish Network Corp. from a hold rating to a buy rating in a report on Thursday, July 28th. Finally, Macquarie reaffirmed a hold rating and set a $62.00 price objective on shares of Dish Network Corp. in a report on Tuesday, May 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $66.24.
Shares of Dish Network Corp. (NASDAQ:DISH) opened at 54.93 on Monday. The firm has a market cap of $25.53 billion, a P/E ratio of 29.34 and a beta of 0.79. Dish Network Corp. has a 12-month low of $38.85 and a 12-month high of $65.49. The company’s 50 day moving average price is $51.34 and its 200-day moving average price is $50.06.
Dish Network Corp. (NASDAQ:DISH) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.71 by $0.17. The business earned $3.84 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Dish Network Corp. had a return on equity of 42.01% and a net margin of 5.75%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. On average, equities research analysts anticipate that Dish Network Corp. will post $3.08 EPS for the current year.
In other news, insider Carl E. Vogel sold 30,000 shares of Dish Network Corp. stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $53.54, for a total value of $1,606,200.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 49.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC purchased a new position in Dish Network Corp. during the second quarter valued at $126,000. Bessemer Group Inc. purchased a new position in Dish Network Corp. during the second quarter valued at $128,000. Northwestern Mutual Wealth Management Co. raised its position in Dish Network Corp. by 306.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock valued at $128,000 after buying an additional 1,841 shares in the last quarter. Invictus RG purchased a new position in Dish Network Corp. during the first quarter valued at $161,000. Finally, Mizuho Asset Management Co. Ltd. raised its position in Dish Network Corp. by 109.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,165 shares of the company’s stock valued at $166,000 after buying an additional 1,652 shares in the last quarter. 45.34% of the stock is currently owned by institutional investors and hedge funds.
Dish Network Corp. Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: DISH 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 (DBS) and Fixed Satellite Service (FSS) 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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