Brokerages Expect DISH Network Corp (NASDAQ:DISH) Will Announce Quarterly Sales of $3.14 Billion

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Wall Street analysts predict that DISH Network Corp (NASDAQ:DISH) will post sales of $3.14 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for DISH Network’s earnings, with the lowest sales estimate coming in at $3.11 billion and the highest estimate coming in at $3.21 billion. DISH Network reported sales of $3.46 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.2%. The firm is scheduled to report its next earnings results on Friday, August 2nd.

According to Zacks, analysts expect that DISH Network will report full-year sales of $12.43 billion for the current financial year, with estimates ranging from $12.20 billion to $12.58 billion. For the next year, analysts expect that the firm will post sales of $11.56 billion, with estimates ranging from $10.62 billion to $12.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover DISH Network.

DISH Network (NASDAQ:DISH) last released its earnings results on Friday, May 3rd. The company reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.19 billion. DISH Network had a net margin of 11.59% and a return on equity of 18.42%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS.

A number of research firms have weighed in on DISH. BidaskClub downgraded shares of DISH Network from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. ValuEngine raised shares of DISH Network from a “sell” rating to a “hold” rating in a research report on Tuesday, May 28th. Credit Suisse Group raised shares of DISH Network from an “underperform” rating to a “neutral” rating and increased their target price for the company from $26.00 to $34.00 in a research report on Monday, May 6th. Pivotal Research reissued a “hold” rating and set a $33.00 target price (down previously from $37.00) on shares of DISH Network in a research report on Monday, May 20th. Finally, Royal Bank of Canada decreased their target price on shares of DISH Network to $33.00 and set a “market perform” rating for the company in a research report on Tuesday, February 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.71.

In other DISH Network news, Director Tom A. Ortolf purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $34.87 per share, for a total transaction of $348,700.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $348,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 52.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Investors Research Corp bought a new position in shares of DISH Network in the 1st quarter worth $25,000. Wakefield Asset Management LLLP bought a new position in shares of DISH Network in the 4th quarter worth $27,000. Acadian Asset Management LLC bought a new position in shares of DISH Network in the 4th quarter worth $30,000. Global Retirement Partners LLC lifted its holdings in shares of DISH Network by 38.5% in the 1st quarter. Global Retirement Partners LLC now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 292 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of DISH Network in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 48.83% of the company’s stock.

NASDAQ:DISH traded down $0.11 on Wednesday, reaching $38.99. 172,927 shares of the stock traded hands, compared to its average volume of 2,618,082. The company has a market capitalization of $18.34 billion, a PE ratio of 12.98 and a beta of 1.45. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.66 and a current ratio of 0.72. DISH Network has a 1-year low of $23.22 and a 1-year high of $41.39.

About DISH Network

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

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