EchoStar (NASDAQ:SATS – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.
Separately, Raymond James raised their target price on EchoStar from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 24th.
EchoStar Stock Up 0.3 %
NASDAQ:SATS traded up $0.05 during trading hours on Friday, hitting $17.24. 122,927 shares of the company traded hands, compared to its average volume of 244,277. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $18.46 and its 200-day simple moving average is $17.81. EchoStar has a one year low of $15.26 and a one year high of $25.03. The company has a market cap of $1.44 billion, a PE ratio of 8.29 and a beta of 0.73.
EchoStar (NASDAQ:SATS – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The communications equipment provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.20. EchoStar had a return on equity of 3.69% and a net margin of 8.86%. The business had revenue of $499.86 million for the quarter, compared to analysts’ expectations of $489.00 million. Equities analysts predict that EchoStar will post 0.61 earnings per share for the current year.
Institutional Investors Weigh In On EchoStar
Large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in EchoStar by 95.0% in the 3rd quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 1,377 shares during the last quarter. Royal Bank of Canada increased its holdings in EchoStar by 159.9% in the 3rd quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock worth $48,000 after acquiring an additional 1,777 shares during the last quarter. UBS Group AG increased its holdings in EchoStar by 139.4% in the 4th quarter. UBS Group AG now owns 5,053 shares of the communications equipment provider’s stock worth $84,000 after acquiring an additional 2,942 shares during the last quarter. Quantbot Technologies LP purchased a new stake in EchoStar in the 1st quarter worth about $129,000. Finally, Covestor Ltd increased its holdings in EchoStar by 2,809.6% in the 1st quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock worth $133,000 after acquiring an additional 5,282 shares during the last quarter. Hedge funds and other institutional investors own 39.06% of the company’s stock.
EchoStar Company Profile
EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services (ESS). The Hughes segment provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers.