Echostar CORP (NASDAQ:ECHO) Receives $132.00 Average Price Target from Brokerages

Echostar CORP (NASDAQ:ECHO) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $132.00.

A number of equities analysts recently issued reports on the company. Citigroup reduced their target price on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings assumed coverage on Echostar in a research note on Monday, July 6th. They set a “sell (d-)” rating on the stock. TD Cowen cut their price objective on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research note on Friday, July 17th. Finally, Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th.

Echostar Price Performance

NASDAQ:ECHO opened at $85.32 on Tuesday. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar has a twelve month low of $29.34 and a twelve month high of $147.25. The company has a market cap of $24.78 billion, a price-to-earnings ratio of -3.42 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The company had revenue of $3.67 billion during the quarter. As a group, research analysts forecast that Echostar will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William David Wade sold 2,575 shares of Echostar stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the sale, the director owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. The trade was a 48.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 66,094 shares of company stock worth $7,587,592. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Echostar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the company’s stock worth $672,000 after purchasing an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Echostar by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company’s stock valued at $1,854,000 after buying an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Echostar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company’s stock valued at $8,479,000 after buying an additional 24,749 shares during the period. Strs Ohio acquired a new position in shares of Echostar in the 1st quarter valued at about $128,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Echostar by 18.6% in the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the company’s stock valued at $377,000 after buying an additional 2,119 shares during the period. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Echostar Company Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.