Zacks Investment Research upgraded shares of Dish Network Corp. (NASDAQ:DISH) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday. The brokerage currently has $60.00 price target on the stock.
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. Additionally, the company has a strong portfolio of wireless spectrums which can be monetized or can be used for installing mobile network. However, persistent loss of subscribers remains a headwind for DISH Network. “
Several other equities research analysts also recently weighed in on the stock. Jefferies Group restated a buy rating and issued a $80.00 target price on shares of Dish Network Corp. in a research note on Friday, August 26th. Macquarie raised shares of Dish Network Corp. from a neutral rating to an outperform rating and set a $62.00 price target for the company in a report on Tuesday, August 9th. TheStreet raised shares of Dish Network Corp. from a hold rating to a buy rating in a report on Thursday, July 28th. Credit Suisse Group AG set a $57.00 price target on shares of Dish Network Corp. and gave the stock a hold rating in a report on Wednesday, July 27th. Finally, Telsey Advisory Group decreased their price target on shares of Dish Network Corp. from $69.00 to $62.00 and set a market perform rating for the company in a report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Dish Network Corp. presently has a consensus rating of Hold and a consensus price target of $66.24.
Dish Network Corp. (NASDAQ:DISH) opened at 53.97 on Wednesday. Dish Network Corp. has a one year low of $38.85 and a one year high of $65.49. The company has a market cap of $25.09 billion, a P/E ratio of 28.83 and a beta of 0.79. The company has a 50-day moving average of $51.18 and a 200 day moving average of $49.99.
Dish Network Corp. (NASDAQ:DISH) last announced its earnings results on Thursday, July 21st. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.17. The company earned $3.84 billion during the quarter, compared to the consensus estimate of $3.86 billion. Dish Network Corp. had a net margin of 5.75% and a return on equity of 42.01%. Dish Network Corp.’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. Analysts anticipate that Dish Network Corp. will post $3.07 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Dish Network Corp. by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 22,728,671 shares of the company’s stock worth $1,190,983,000 after buying an additional 636,960 shares during the last quarter. Dodge & Cox raised its position in Dish Network Corp. by 23.7% in the first quarter. Dodge & Cox now owns 14,120,430 shares of the company’s stock worth $653,211,000 after buying an additional 2,707,650 shares during the last quarter. Vanguard Group Inc. raised its position in Dish Network Corp. by 2.1% in the second quarter. Vanguard Group Inc. now owns 9,645,533 shares of the company’s stock worth $505,426,000 after buying an additional 195,689 shares during the last quarter. Franklin Resources Inc. raised its position in Dish Network Corp. by 153,552.3% in the second quarter. Franklin Resources Inc. now owns 6,914,355 shares of the company’s stock worth $362,313,000 after buying an additional 6,909,855 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Dish Network Corp. by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,429,903 shares of the company’s stock worth $284,527,000 after buying an additional 63,853 shares during the last quarter. Hedge funds and other institutional investors own 45.34% of the company’s stock.
About Dish Network Corp.
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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