Key Points
- Director William Wall bought 1,000 EchoStar shares at $90.41 each, spending $90,410 and increasing his stake by 40% to 3,500 shares.
- EchoStar reported quarterly EPS of $7.97, beating the $3.07 consensus estimate by $4.90; its shares were reported up 6.9%.
- Analysts’ consensus rating is Buy, with an average price target of $139.44; UBS raised its target to $160.
Echostar CORP (NASDAQ:ECHO - Get Free Report) Director William Wall acquired 1,000 shares of the company's stock in a transaction dated Thursday, November 5th. The stock was acquired at an average price of $90.41 per share, for a total transaction of $90,410.00. Following the acquisition, the director owned 3,500 shares in the company, valued at approximately $316,435. The trade was a 40.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Echostar Trading Up 6.9%
Shares of Echostar stock opened at $101.19 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.12 and a current ratio of 10.16. Echostar CORP has a 52 week low of $65.76 and a 52 week high of $147.25. The company has a 50 day moving average of $92.29.
Echostar (NASDAQ:ECHO - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a net margin of 81.29% and a return on equity of 22.85%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $3.00 million. On average, sell-side analysts anticipate that Echostar CORP will post -0.13 EPS for the current year.
Hedge Funds Weigh In On Echostar
Large investors have recently made changes to their positions in the stock. Carlson Capital L.P. grew its holdings in shares of Echostar by 84.0% in the 3rd quarter. Carlson Capital L.P. now owns 4,600 shares of the company's stock worth $411,000 after acquiring an additional 2,100 shares during the period. Aberdeen Group plc boosted its position in shares of Echostar by 172.9% in the 3rd quarter. Aberdeen Group plc now owns 19,970 shares of the company's stock worth $1,786,000 after buying an additional 12,653 shares in the last quarter. Allworth Financial LP boosted its position in shares of Echostar by 39.2% in the 3rd quarter. Allworth Financial LP now owns 934 shares of the company's stock worth $84,000 after buying an additional 263 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its holdings in Echostar by 11.7% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 12,467 shares of the company's stock valued at $1,115,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its holdings in shares of Echostar by 29.2% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 704 shares of the company's stock valued at $63,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Echostar from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. TD Cowen lowered their target price on Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Raymond James Financial raised Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price target for the company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Echostar in a research report on Friday, October 16th. They issued an "overweight" rating and a $144.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $139.44.
Check Out Our Latest Report on ECHO
Echostar Company Profile
(
Get Free Report)
EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.
The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.
Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.
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