Echostar (NASDAQ:ECHO) Stock Price Target Lowered at Morgan Stanley

Echostar (NASDAQ:ECHO) had its price objective decreased by Morgan Stanley from $134.00 to $132.00 in a research report report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research analysts have also commented on ECHO. Weiss Ratings restated a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. Citigroup lowered their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. JPMorgan Chase & Co. began coverage on Echostar in a report on Friday, October 16th. They issued an “overweight” rating and a $144.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price objective on shares of Echostar in a report on Wednesday, July 15th. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Echostar has an average rating of “Buy” and an average target price of $139.44.

Echostar Trading Down 3.3%

Shares of ECHO stock opened at $98.62 on Wednesday. The firm’s 50-day moving average price is $91.75. The firm has a market cap of $28.65 billion, a PE ratio of -3.96 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. Echostar has a twelve month low of $65.76 and a twelve month high of $147.25.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 EPS for the quarter, beating the consensus estimate of $3.07 by $4.90. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. As a group, equities research analysts predict that Echostar will post -0.27 EPS for the current year.

Insider Buying and Selling

In other news, Director Stephen J. Bye sold 8,508 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the transaction, the director directly owned 653 shares of the company’s stock, valued at $58,658.99. This represents a 92.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Wade sold 2,425 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,508 shares of company stock worth $1,224,686 in the last ninety days. 54.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. New York Life Investment Management LLC raised its stake in Echostar by 1.4% in the 3rd quarter. New York Life Investment Management LLC now owns 19,315 shares of the company’s stock valued at $1,727,000 after purchasing an additional 268 shares during the last quarter. Retirement Systems of Alabama boosted its position in Echostar by 1.4% during the third quarter. Retirement Systems of Alabama now owns 29,034 shares of the company’s stock worth $2,596,000 after acquiring an additional 405 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in Echostar by 217.4% during the third quarter. Fulcrum Asset Management LLP now owns 2,444 shares of the company’s stock worth $220,000 after acquiring an additional 1,674 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Echostar by 19.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,845 shares of the company’s stock valued at $692,000 after purchasing an additional 1,293 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Echostar by 36.7% in the 3rd quarter. Parallel Advisors LLC now owns 3,062 shares of the company’s stock valued at $274,000 after buying an additional 822 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Echostar News Summary

Here are the key news stories impacting Echostar this week:

• Positive Sentiment: Reports that SpaceX is exploring a Boost Mobile acquisition or access to EchoStar’s wireless network have raised expectations for a potential strategic transaction and a way to combine satellite and 5G services. The discussions are unconfirmed, but they have been a catalyst for investor interest. Article: EchoStar Shares Climb on SpaceX Talks
• Positive Sentiment: UBS raised its price target to $160 from $150 and reaffirmed a Buy rating, signaling a more optimistic view of the shares. UBS Group recommendations
• Positive Sentiment: EchoStar reported quarterly EPS of $7.97, above the cited $3.07 consensus estimate. Article: EchoStar reports third-quarter results
• Neutral Sentiment: Morgan Stanley trimmed its target to $132 from $134 but kept its Overweight rating, indicating continued optimism despite a modestly lower valuation estimate. Morgan Stanley recommendations
• Negative Sentiment: The SpaceX possibility remains uncertain, and reports point to potential litigation risks and complications involving network leases. Separately, EchoStar’s reported negative net margin and weak profitability temper the positive headline EPS surprise. Article: EchoStar’s potential SpaceX deal and financials

Echostar Company Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.