According to Zacks, “ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses, a digital set-top box business and a fixed satellite services business. Their set-top box business designs, develops and distributes set-top boxes and related products for direct-to-home satellite service providers. “
Several other equities research analysts have also issued reports on the stock. Citigroup Inc. boosted their price target on shares of EchoStar Corp. from $60.00 to $62.00 and gave the company a buy rating in a report on Wednesday, August 17th. Macquarie reissued an outperform rating and issued a $55.00 price target on shares of EchoStar Corp. in a report on Friday, July 8th. Finally, TheStreet lowered shares of EchoStar Corp. from a buy rating to a hold rating in a report on Wednesday, July 6th.
EchoStar Corp. (NASDAQ:SATS) opened at 45.79 on Wednesday. The firm’s 50-day moving average is $41.55 and its 200 day moving average is $40.25. The firm has a market cap of $4.30 billion, a PE ratio of 21.10 and a beta of 0.99. EchoStar Corp. has a 1-year low of $30.86 and a 1-year high of $47.54.
EchoStar Corp. (NASDAQ:SATS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.17. The firm had revenue of $757.60 million for the quarter, compared to analyst estimates of $766.99 million. EchoStar Corp. had a net margin of 6.31% and a return on equity of 5.17%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities analysts forecast that EchoStar Corp. will post $1.78 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of EchoStar Corp. by 16.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,379 shares of the company’s stock valued at $148,000 after buying an additional 476 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of EchoStar Corp. by 7.9% in the second quarter. Public Employees Retirement System of Ohio now owns 12,670 shares of the company’s stock valued at $503,000 after buying an additional 926 shares during the period. Calvert Investment Management Inc. raised its stake in shares of EchoStar Corp. by 1.0% in the second quarter. Calvert Investment Management Inc. now owns 5,229 shares of the company’s stock valued at $208,000 after buying an additional 54 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of EchoStar Corp. by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 188,712 shares of the company’s stock valued at $7,492,000 after buying an additional 18,981 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of EchoStar Corp. by 7.1% in the second quarter. Amalgamated Bank now owns 5,493 shares of the company’s stock valued at $204,000 after buying an additional 364 shares in the last quarter. 44.02% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Corp. Company Profile
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
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