EchoStar Corporation (NASDAQ:SATS) Receives $137.14 Average PT from Brokerages

EchoStar Corporation (NASDAQ:SATS) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $137.1429.

Several research firms have recently commented on SATS. Williams Trading set a $155.00 target price on shares of EchoStar in a report on Monday, May 18th. TD Cowen boosted their target price on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, New Street Research began coverage on shares of EchoStar in a report on Wednesday, May 13th. They issued a “buy” rating and a $161.00 target price on the stock.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On EchoStar

Hedge funds have recently modified their holdings of the stock. DLD Asset Management LP bought a new stake in EchoStar in the third quarter worth $2,481,700,000. Sachem Head Capital Management LP bought a new stake in EchoStar in the fourth quarter worth $568,218,000. Icahn Carl C bought a new stake in EchoStar in the third quarter worth $332,513,000. Geode Capital Management LLC increased its position in EchoStar by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,524,576 shares of the communications equipment provider’s stock worth $382,595,000 after purchasing an additional 48,671 shares during the last quarter. Finally, Contrarius Group Holdings Ltd increased its position in EchoStar by 68.6% in the fourth quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the communications equipment provider’s stock worth $237,154,000 after purchasing an additional 887,611 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

NASDAQ:SATS opened at $115.24 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. EchoStar has a 12-month low of $16.60 and a 12-month high of $147.25. The stock has a 50-day moving average price of $125.92 and a 200 day moving average price of $114.10. The stock has a market capitalization of $33.40 billion, a P/E ratio of -2.30 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last released its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the business posted ($0.71) EPS. Equities research analysts forecast that EchoStar will post -3.79 EPS for the current fiscal year.

Trending Headlines about EchoStar

Here are the key news stories impacting EchoStar this week:

• Positive Sentiment: EchoStar’s pending transactions with AT&T and SpaceX could unlock about $44.65 billion in value, helping monetize spectrum, reduce debt, and support future wireless growth. Article Title
• Positive Sentiment: Several large institutional investors have recently added to EchoStar positions, including State Street, Wellington Management, and FMR, suggesting ongoing professional interest in the stock.
• Positive Sentiment: Analyst coverage remains constructive overall, with recent price targets near $129 to $155 and TD Cowen reiterating an upbeat view on the company’s spectrum assets.
• Neutral Sentiment: Market commentary continues to focus on whether EchoStar’s spectrum holdings are being fairly valued, with some analysts saying the rally may be hard to chase after the recent run-up. Article Title
• Neutral Sentiment: Short interest remains elevated at roughly 36.5% of float, which can amplify volatility and signal a divided market view on the stock.
• Negative Sentiment: EchoStar CEO Hamid Akhavan recently sold shares under a pre-arranged trading plan, and insider data shows only sales over the past six months, which may weigh on sentiment.
• Negative Sentiment: Some headlines are framing EchoStar’s weakness as a warning sign tied to SpaceX-related expectations, adding uncertainty around the market’s interpretation of the company’s satellite spectrum strategy. Article Title

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.