Key Points
- Director Stephen Bye sold 8,508 EchoStar shares at an average price of $89.83, generating approximately $764,274. Following the transaction, his holdings fell 92.87% to 653 shares.
- EchoStar reported a quarterly loss of $0.51 per share on $3.67 billion in revenue, with a negative net margin of 38.71%. Analysts expect a full-year loss of $1.35 per share.
- Despite mixed analyst views, EchoStar has a consensus “Moderate Buy” rating and an average price target of $132, versus a recent share price of $87.98.
Echostar CORP (NASDAQ:ECHO - Get Free Report) Director Stephen Bye sold 8,508 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the sale, the director owned 653 shares of the company's stock, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Echostar Stock Down 1.3%
NASDAQ:ECHO opened at $87.98 on Wednesday. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar CORP has a 52-week low of $26.52 and a 52-week high of $147.25. The stock has a market cap of $25.56 billion, a P/E ratio of -3.53 and a beta of 1.03.
Echostar (NASDAQ:ECHO - Get Free Report) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $3.67 billion for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. On average, equities analysts expect that Echostar CORP will post -1.35 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have issued reports on ECHO. Wall Street Zen upgraded shares of Echostar from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Raymond James Financial upgraded Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price objective for the company in a research report on Friday, July 17th. TD Cowen reduced their price objective on Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Weiss Ratings initiated coverage on Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. Finally, Williams Trading set a $155.00 target price on Echostar in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.00.
Read Our Latest Stock Analysis on Echostar
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in Echostar during the fourth quarter valued at $3,593,000. Dockside LLC purchased a new stake in Echostar in the 4th quarter worth about $1,554,000. Seven Grand Managers LLC acquired a new stake in Echostar during the 4th quarter worth about $21,740,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Echostar during the 4th quarter valued at about $28,994,000. Finally, Legal & General Group Plc grew its stake in Echostar by 47.0% during the 4th quarter. Legal & General Group Plc now owns 356,447 shares of the company's stock valued at $38,746,000 after acquiring an additional 114,018 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.
Echostar Company Profile
(
Get Free Report)
EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.
The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.
EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.
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