Analysts Set EchoStar Co. (NASDAQ:SATS) Price Target at $23.00

EchoStar Co. (NASDAQ:SATS) has received an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.20.

SATS has been the topic of several recent research reports. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their price target on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. UBS Group lifted their target price on shares of EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, TD Cowen cut their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

EchoStar Trading Down 3.0 %

Shares of SATS opened at $24.61 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. EchoStar has a 1-year low of $9.53 and a 1-year high of $30.08. The company has a market capitalization of $6.69 billion, a P/E ratio of -2.86 and a beta of 0.71. The firm’s 50 day simple moving average is $22.58 and its 200 day simple moving average is $19.33.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Sell-side analysts forecast that EchoStar will post -1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EchoStar

A number of hedge funds have recently modified their holdings of SATS. GAMMA Investing LLC increased its holdings in EchoStar by 125.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares during the period. Eagle Bay Advisors LLC raised its holdings in shares of EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 1,469 shares in the last quarter. Quarry LP purchased a new stake in EchoStar in the fourth quarter worth $41,000. Finally, Central Pacific Bank Trust Division purchased a new stake in EchoStar in the first quarter worth $67,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.