BidaskClub Upgrades DISH Network (NASDAQ:DISH) to Buy

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DISH Network (NASDAQ:DISH) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, BidAskClub reports.

Several other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Credit Suisse Group set a €50.00 ($58.14) price objective on shares of Fresenius SE & Co KGaA and gave the stock a “neutral” rating in a research report on Monday, May 6th. Finally, Pivotal Research reiterated a “hold” rating and set a $33.00 price objective (down from $37.00) on shares of DISH Network in a research report on Monday, May 20th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. DISH Network has an average rating of “Hold” and an average price target of $37.62.

NASDAQ DISH opened at $41.87 on Friday. DISH Network has a twelve month low of $23.22 and a twelve month high of $41.97. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market cap of $19.64 billion, a PE ratio of 14.24 and a beta of 1.42. The business’s 50 day moving average price is $37.79.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. DISH Network had a net margin of 11.59% and a return on equity of 18.42%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that DISH Network will post 2.45 earnings per share for the current fiscal year.

In related news, Director Tom A. Ortolf purchased 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $34.87 per share, for a total transaction of $348,700.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $348,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 52.80% of the company’s stock.

A number of large investors have recently modified their holdings of DISH. LSV Asset Management lifted its position in DISH Network by 7,407.0% during the 1st quarter. LSV Asset Management now owns 4,384,082 shares of the company’s stock worth $138,931,000 after acquiring an additional 4,325,682 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of DISH Network by 146.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,701,900 shares of the company’s stock valued at $42,499,000 after buying an additional 1,010,741 shares during the last quarter. Norges Bank acquired a new position in shares of DISH Network during the fourth quarter valued at about $19,316,000. Worldquant Millennium Quantitative Strategies LLC raised its position in shares of DISH Network by 98.7% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 1,091,220 shares of the company’s stock valued at $27,248,000 after buying an additional 542,000 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of DISH Network by 71.6% during the fourth quarter. Teacher Retirement System of Texas now owns 666,838 shares of the company’s stock valued at $16,651,000 after buying an additional 278,237 shares during the last quarter. Hedge funds and other institutional investors own 48.83% of the company’s stock.

DISH Network Company Profile

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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Analyst Recommendations for DISH Network (NASDAQ:DISH)

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