DISH Network (NASDAQ:DISH) Downgraded by ValuEngine

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ValuEngine downgraded shares of DISH Network (NASDAQ:DISH) from a sell rating to a strong sell rating in a research report released on Thursday morning, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Raymond James upgraded shares of DISH Network from a market perform rating to a strong-buy rating and set a $44.00 target price for the company in a report on Monday, August 26th. Barclays lowered shares of DISH Network from an equal weight rating to an underweight rating and set a $31.00 target price for the company. in a report on Monday, July 29th. Moffett Nathanson lowered shares of DISH Network from a neutral rating to a sell rating and set a $30.00 target price for the company. in a report on Thursday, July 25th. Citigroup lowered their target price on shares of DISH Network from $42.00 to $40.00 and set a buy rating for the company in a report on Friday, October 4th. Finally, BidaskClub lowered shares of DISH Network from a hold rating to a sell rating in a report on Saturday, October 5th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. DISH Network presently has an average rating of Hold and a consensus price target of $35.69.

DISH Network stock traded down $0.42 during trading hours on Thursday, hitting $33.64. 930,525 shares of the stock traded hands, compared to its average volume of 2,758,479. The firm’s 50-day moving average price is $34.02 and its two-hundred day moving average price is $35.37. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The company has a market cap of $15.58 billion, a PE ratio of 11.21 and a beta of 1.40. DISH Network has a one year low of $23.22 and a one year high of $44.65.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.05). DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The firm had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts expect that DISH Network will post 2.44 earnings per share for the current fiscal year.

In other news, Chairman Charles W. Ergen acquired 300,005 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $31.70 per share, for a total transaction of $9,510,158.50. Following the acquisition, the chairman now directly owns 1,656,075 shares in the company, valued at $52,497,577.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles W. Ergen acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $30.94 per share, with a total value of $3,094,000.00. Following the completion of the acquisition, the chairman now owns 1,656,075 shares in the company, valued at $51,238,960.50. The disclosure for this purchase can be found here. Insiders have bought 700,005 shares of company stock valued at $21,958,159 over the last quarter. Company insiders own 52.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in DISH. Renaissance Technologies LLC raised its holdings in DISH Network by 78.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,676,400 shares of the company’s stock worth $64,391,000 after acquiring an additional 734,500 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in DISH Network by 88.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 952,723 shares of the company’s stock worth $36,594,000 after purchasing an additional 446,873 shares during the period. AustralianSuper Pty Ltd grew its position in DISH Network by 40.5% in the 2nd quarter. AustralianSuper Pty Ltd now owns 957,800 shares of the company’s stock worth $36,789,000 after purchasing an additional 276,107 shares during the period. Vanguard Group Inc. grew its position in DISH Network by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 23,719,762 shares of the company’s stock worth $911,075,000 after purchasing an additional 254,456 shares during the period. Finally, Andra AP fonden bought a new stake in DISH Network in the 1st quarter worth approximately $7,121,000. Institutional investors own 48.06% 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.

See Also: Hedge Funds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for DISH Network (NASDAQ:DISH)

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