Brokerages Set EchoStar Co. (NASDAQ:SATS) PT at $23.75

Shares of EchoStar Co. (NASDAQ:SATS) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.75.

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on EchoStar in a research note on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price for the company. UBS Group raised their price objective on EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th.

EchoStar Stock Down 0.9 %

Shares of SATS opened at $26.14 on Friday. EchoStar has a 52-week low of $12.36 and a 52-week high of $32.48. The company has a market capitalization of $7.49 billion, a PE ratio of -2.85 and a beta of 0.65. The stock has a fifty day simple moving average of $27.55 and a two-hundred day simple moving average of $25.20. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

EchoStar (NASDAQ:SATS) last issued its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. As a group, equities analysts forecast that EchoStar will post -1.99 EPS for the current year.

Hedge Funds Weigh In On EchoStar

Institutional investors have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of EchoStar by 32.7% in the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after buying an additional 40,533 shares during the period. Intech Investment Management LLC purchased a new position in shares of EchoStar in the 3rd quarter valued at about $651,000. Stonehill Capital Management LLC purchased a new stake in EchoStar during the third quarter worth approximately $9,235,000. Illinois Municipal Retirement Fund lifted its stake in EchoStar by 30.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider’s stock worth $1,582,000 after purchasing an additional 16,253 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in EchoStar during the third quarter worth approximately $1,230,000. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.