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

Raymond James cut shares of EchoStar (NASDAQ:SATS) from a strong-buy rating to a market perform rating in a research note published on Tuesday, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on SATS. UBS Group boosted their target price on shares of EchoStar from $14.00 to $15.00 and gave the stock a neutral rating in a research note on Tuesday, August 13th. StockNews.com raised shares of EchoStar to a sell rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reaffirmed an underweight rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. TD Cowen cut their price target on shares of EchoStar from $38.00 to $37.00 and set a buy rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley lifted their price target on shares of EchoStar from $14.00 to $20.00 and gave the stock an equal weight rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $23.00.

EchoStar Stock Performance

Shares of NASDAQ:SATS opened at $23.29 on Tuesday. The company’s 50 day simple moving average is $21.17 and its 200 day simple moving average is $18.36. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -3.02 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. EchoStar has a 1 year low of $9.53 and a 1 year high of $30.08.

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

Hedge Funds Weigh In On EchoStar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in EchoStar in the third quarter valued at $165,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of EchoStar during the second quarter valued at about $89,000. Creative Planning raised its holdings in shares of EchoStar by 44.7% during the second quarter. Creative Planning now owns 24,904 shares of the communications equipment provider’s stock valued at $444,000 after purchasing an additional 7,693 shares during the period. Algert Global LLC raised its holdings in shares of EchoStar by 430.1% during the second quarter. Algert Global LLC now owns 86,147 shares of the communications equipment provider’s stock valued at $1,534,000 after purchasing an additional 69,897 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of EchoStar during the second quarter valued at about $265,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

About EchoStar

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.