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. “
SATS has been the subject of several other reports. Citigroup Inc. boosted their price target on EchoStar Corp. from $60.00 to $62.00 and gave the company a buy rating in a research note on Wednesday, August 17th. Macquarie restated an outperform rating and issued a $55.00 price target on shares of EchoStar Corp. in a research note on Friday, July 8th. Finally, TheStreet downgraded EchoStar Corp. from a buy rating to a hold rating in a research note on Wednesday, July 6th.
Shares of EchoStar Corp. (NASDAQ:SATS) traded down 1.62% during mid-day trading on Wednesday, hitting $44.81. The stock had a trading volume of 22,303 shares. The firm has a market cap of $4.21 billion, a PE ratio of 20.65 and a beta of 0.99. The stock has a 50 day moving average price of $41.15 and a 200 day moving average price of $40.20. EchoStar Corp. has a 52 week low of $30.86 and a 52 week high of $47.54.
EchoStar Corp. (NASDAQ:SATS) last issued its earnings results on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.17. EchoStar Corp. had a return on equity of 5.17% and a net margin of 6.31%. The company earned $757.60 million during the quarter, compared to the consensus estimate of $766.99 million. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts expect that EchoStar Corp. will post $1.78 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Quaker Capital Investments LLC increased its stake in EchoStar Corp. by 769.0% in the second quarter. Quaker Capital Investments LLC now owns 236,368 shares of the company’s stock worth $9,384,000 after buying an additional 209,168 shares during the last quarter. Vanguard Group Inc. increased its stake in EchoStar Corp. by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,253,304 shares of the company’s stock worth $129,157,000 after buying an additional 148,602 shares during the last quarter. Renaissance Technologies LLC increased its stake in EchoStar Corp. by 4.9% in the first quarter. Renaissance Technologies LLC now owns 2,081,180 shares of the company’s stock worth $92,175,000 after buying an additional 96,900 shares during the last quarter. ACT II Management LP bought a new stake in EchoStar Corp. during the second quarter worth $3,242,000. Finally, State of New Jersey Common Pension Fund D increased its stake in EchoStar Corp. by 12.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 715,000 shares of the company’s stock worth $28,386,000 after buying an additional 80,000 shares during the last quarter. Hedge funds and other institutional investors own 44.02% of the company’s stock.
About EchoStar Corp.
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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