Equities research analysts predict that DISH Network Corp (NASDAQ:DISH) will post sales of $3.13 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for DISH Network’s earnings. The highest sales estimate is $3.19 billion and the lowest is $3.06 billion. DISH Network reported sales of $3.40 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 7.9%. The company is expected to announce its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that DISH Network will report full-year sales of $12.58 billion for the current year, with estimates ranging from $12.30 billion to $12.74 billion. For the next financial year, analysts forecast that the business will post sales of $11.87 billion, with estimates ranging from $11.16 billion to $12.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover DISH Network.
DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.05). DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year.
A number of equities research analysts have recently commented on DISH shares. Barclays lowered shares of DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 price objective on the stock. in a research note on Monday, July 29th. BidaskClub lowered shares of DISH Network from a “hold” rating to a “sell” rating in a research note on Saturday. ValuEngine raised shares of DISH Network from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Raymond James raised shares of DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Monday, August 26th. Finally, Citigroup reduced their price objective on shares of DISH Network from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Seven research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. DISH Network has a consensus rating of “Hold” and a consensus target price of $35.69.
Shares of NASDAQ:DISH traded up $0.60 during trading on Friday, reaching $32.69. The stock had a trading volume of 1,282,555 shares, compared to its average volume of 2,778,635. The firm’s fifty day moving average is $33.96 and its 200 day moving average is $35.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63. DISH Network has a 52 week low of $23.22 and a 52 week high of $44.65. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 10.89 and a beta of 1.40.
In related news, Chairman Charles W. Ergen bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $30.94 per share, with a total value of $3,094,000.00. Following the completion of the purchase, the chairman now directly owns 1,656,075 shares in the company, valued at $51,238,960.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles W. Ergen bought 300,005 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $31.70 per share, for a total transaction of $9,510,158.50. Following the completion of the purchase, the chairman now owns 1,656,075 shares of the company’s stock, valued at $52,497,577.50. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 700,005 shares of company stock worth $21,958,159. 52.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC raised its holdings in DISH Network by 0.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 34,866 shares of the company’s stock worth $1,105,000 after buying an additional 325 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in DISH Network by 0.3% during the second quarter. Treasurer of the State of North Carolina now owns 113,299 shares of the company’s stock worth $4,352,000 after buying an additional 340 shares during the last quarter. Aperio Group LLC raised its holdings in DISH Network by 0.7% during the second quarter. Aperio Group LLC now owns 53,350 shares of the company’s stock worth $2,049,000 after buying an additional 389 shares during the last quarter. World Asset Management Inc raised its holdings in shares of DISH Network by 2.6% in the second quarter. World Asset Management Inc now owns 15,724 shares of the company’s stock valued at $604,000 after purchasing an additional 399 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of DISH Network by 0.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 43,041 shares of the company’s stock valued at $1,653,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 48.04% of the company’s stock.
About DISH Network
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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