Echostar (NASDAQ:SATS) Rating Increased to Buy at ValuEngine

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ValuEngine upgraded shares of Echostar (NASDAQ:SATS) from a hold rating to a buy rating in a report published on Saturday, ValuEngine reports.

Several other equities research analysts also recently commented on SATS. Raymond James reaffirmed a strong-buy rating and set a $61.00 price objective (down from $68.00) on shares of Echostar in a report on Wednesday, September 11th. Citigroup downgraded shares of Echostar from a buy rating to a neutral rating and dropped their price objective for the company from $48.00 to $44.00 in a report on Friday, October 4th. Zacks Investment Research downgraded shares of Echostar from a buy rating to a hold rating in a report on Thursday, October 10th. Finally, BidaskClub downgraded shares of Echostar from a buy rating to a hold rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Echostar presently has a consensus rating of Hold and an average target price of $49.67.

NASDAQ SATS opened at $38.72 on Friday. The company has a market cap of $3.64 billion, a PE ratio of 101.89 and a beta of 0.80. Echostar has a 52 week low of $27.29 and a 52 week high of $41.32. The company has a quick ratio of 5.94, a current ratio of 6.10 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $39.26 and its two-hundred day simple moving average is $41.42.

Echostar (NASDAQ:SATS) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.17). The business had revenue of $537.12 million for the quarter, compared to analysts’ expectations of $538.80 million. Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. Echostar’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. As a group, equities research analysts anticipate that Echostar will post -0.47 EPS for the current year.

In other Echostar news, CEO Michael T. Dugan sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 52.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its holdings in shares of Echostar by 0.3% in the second quarter. EdgePoint Investment Group Inc. now owns 5,519,961 shares of the communications equipment provider’s stock worth $244,645,000 after buying an additional 19,081 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Echostar by 8.2% in the second quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock worth $157,406,000 after buying an additional 270,500 shares in the last quarter. Park West Asset Management LLC lifted its holdings in shares of Echostar by 23.8% in the second quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock worth $43,064,000 after buying an additional 186,615 shares in the last quarter. First Trust Advisors LP raised its stake in Echostar by 4.9% in the first quarter. First Trust Advisors LP now owns 964,768 shares of the communications equipment provider’s stock valued at $35,166,000 after purchasing an additional 45,077 shares in the last quarter. Finally, Indaba Capital Management L.P. raised its stake in Echostar by 10.7% in the second quarter. Indaba Capital Management L.P. now owns 751,925 shares of the communications equipment provider’s stock valued at $33,325,000 after purchasing an additional 72,806 shares in the last quarter. 45.48% of the stock is currently owned by hedge funds and other institutional investors.

About Echostar

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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