Morgan Stanley Lowers EchoStar (NASDAQ:SATS) Price Target to $14.00

EchoStar (NASDAQ:SATSGet Free Report) had its price target decreased by stock analysts at Morgan Stanley from $14.25 to $14.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the communications equipment provider’s stock. Morgan Stanley’s price objective points to a potential upside of 3.86% from the stock’s current price.

SATS has been the topic of several other research reports. StockNews.com assumed coverage on EchoStar in a report on Thursday, March 28th. They issued a “buy” rating on the stock. TD Cowen decreased their price target on EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. UBS Group raised their price target on EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. started coverage on EchoStar in a report on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Check Out Our Latest Research Report on EchoStar

EchoStar Price Performance

EchoStar stock traded up $0.44 during mid-day trading on Wednesday, hitting $13.48. 601,662 shares of the company were exchanged, compared to its average volume of 2,631,276. The company has a quick ratio of 0.53, a current ratio of 0.61 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $13.56 and a 200 day moving average of $13.73. EchoStar has a 1-year low of $9.53 and a 1-year high of $24.80. The company has a market capitalization of $3.66 billion, a PE ratio of -1.93 and a beta of 0.69.

EchoStar (NASDAQ:SATSGet Free Report) last announced its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $1.19. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. The company had revenue of $4.16 billion during the quarter. During the same quarter last year, the business posted $0.59 earnings per share. The business’s quarterly revenue was up 732.2% compared to the same quarter last year. As a group, sell-side analysts expect that EchoStar will post -1.11 earnings per share for the current year.

Insider Activity

In other EchoStar news, Director James Defranco acquired 110,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $1,482,800.00. Following the acquisition, the director now directly owns 306,951 shares of the company’s stock, valued at approximately $4,137,699.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 55.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EchoStar

A number of hedge funds and other institutional investors have recently bought and sold shares of SATS. Pennant Select LLC acquired a new stake in EchoStar in the 4th quarter valued at approximately $36,892,000. Beryl Capital Management LLC acquired a new position in shares of EchoStar during the 3rd quarter worth approximately $36,090,000. Pennant Investors LP acquired a new position in shares of EchoStar during the 4th quarter worth approximately $35,679,000. Principal Financial Group Inc. increased its holdings in shares of EchoStar by 4,541.5% during the 4th quarter. Principal Financial Group Inc. now owns 639,094 shares of the communications equipment provider’s stock worth $10,590,000 after acquiring an additional 625,325 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of EchoStar during the 3rd quarter worth approximately $10,155,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for EchoStar (NASDAQ:SATS)

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