Key Points
- John Swieringa, EchoStar's COO, sold 22,000 shares on November 21 at an average price of $67.34 for proceeds of $1,481,480, reducing his stake by 7.2% to 283,509 shares (SEC filing).
- EchoStar reported a major quarterly earnings miss — EPS of ($44.37) vs. consensus ($1.23) and revenue of $3.61 billion (vs. $3.75 billion), with quarterly revenue down 7.1% year-over-year.
- The stock has a $20.44 billion market cap and negative P/E, a 12‑month range of $14.90–$85.37, and a MarketBeat consensus rating of “Hold” with an average price target of $75.60.
EchoStar Corporation (NASDAQ:SATS - Get Free Report) COO John Swieringa sold 22,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the sale, the chief operating officer directly owned 283,509 shares of the company's stock, valued at $19,091,496.06. The trade was a 7.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
John Swieringa also recently made the following trade(s):
- On Tuesday, September 9th, John Swieringa sold 154,835 shares of EchoStar stock. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00.
EchoStar Stock Performance
Shares of SATS opened at $71.00 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The firm has a market cap of $20.44 billion, a PE ratio of -67.62 and a beta of 0.94. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $85.37. The stock has a fifty day moving average price of $73.10 and a 200-day moving average price of $47.03.
EchoStar (NASDAQ:SATS - Get Free Report) last announced its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the firm earned ($0.52) earnings per share. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. Equities research analysts predict that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.
Institutional Trading of EchoStar
Several large investors have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators acquired a new stake in shares of EchoStar in the third quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in EchoStar in the third quarter valued at $38,000. Bessemer Group Inc. grew its position in EchoStar by 79.1% during the 3rd quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider's stock worth $64,000 after purchasing an additional 370 shares during the period. Farther Finance Advisors LLC raised its stake in shares of EchoStar by 593.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 789 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of EchoStar in the 3rd quarter valued at about $92,000. 33.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SATS has been the subject of several research analyst reports. Citigroup increased their price objective on shares of EchoStar from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, November 11th. Zacks Research lowered shares of EchoStar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of EchoStar in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a report on Tuesday, September 9th. Finally, TD Cowen raised their target price on EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, EchoStar has a consensus rating of "Hold" and an average price target of $75.60.
Read Our Latest Report on EchoStar
About EchoStar
(
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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