EchoStar (NASDAQ:SATS) Rating Lowered to Market Perform at Raymond James

EchoStar (NASDAQ:SATS) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. TD Cowen reduced their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. UBS Group lifted their target price on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Morgan Stanley upped their price target on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Finally, StockNews.com upgraded shares of EchoStar to a “sell” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.00.

EchoStar Trading Up 1.1 %

SATS opened at $24.36 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. EchoStar has a 52 week low of $9.53 and a 52 week high of $30.08. The business’s 50 day moving average is $20.93 and its two-hundred day moving average is $18.21. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of -3.16 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last announced its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was down 9.3% compared to the same quarter last year. On average, research analysts predict that EchoStar will post -1.81 EPS for the current year.

Institutional Investors Weigh In On EchoStar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of EchoStar by 183.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 1,469 shares during the period. Quarry LP purchased a new stake in shares of EchoStar during the 4th quarter worth approximately $41,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of EchoStar in the 1st quarter worth approximately $67,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

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.