Echostar Co. (NASDAQ:SATS) insider Pradman P. Kaul sold 1,321 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $42.27, for a total value of $55,838.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
SATS opened at $41.35 on Tuesday. Echostar Co. has a one year low of $27.29 and a one year high of $43.04. The stock has a market capitalization of $4.11 billion, a PE ratio of 108.82 and a beta of 0.80. The business’s 50 day moving average price is $39.79 and its 200 day moving average price is $41.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 6.17 and a current ratio of 6.35.
Echostar (NASDAQ:SATS) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.20. Echostar had a negative return on equity of 0.31% and a negative net margin of 5.86%. The firm had revenue of $472.26 million for the quarter, compared to analysts’ expectations of $470.15 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Echostar Co. will post -0.79 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in SATS. Point72 Asset Management L.P. acquired a new position in Echostar during the third quarter worth $79,000. Point72 Hong Kong Ltd acquired a new position in Echostar during the second quarter worth $92,000. Ashburton Jersey Ltd acquired a new position in Echostar during the second quarter worth $107,000. Convergence Investment Partners LLC acquired a new position in Echostar during the second quarter worth $116,000. Finally, Cutler Group LP lifted its stake in Echostar by 89.5% during the third quarter. Cutler Group LP now owns 3,076 shares of the communications equipment provider’s stock worth $121,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors own 46.35% of the company’s stock.
A number of research analysts recently commented on the company. Citigroup cut Echostar from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $48.00 to $44.00 in a report on Friday, October 4th. Zacks Investment Research upgraded Echostar from a “strong sell” rating to a “hold” rating in a report on Saturday, November 9th. Raymond James reiterated a “strong-buy” rating and issued a $61.00 price objective (down from $68.00) on shares of Echostar in a report on Wednesday, September 11th. BidaskClub cut Echostar from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, ValuEngine cut Echostar from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $49.67.
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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