DISH Network Co. (NASDAQ:DISH) Expected to Post Quarterly Sales of $4.47 Billion

Wall Street brokerages expect that DISH Network Co. (NASDAQ:DISH) will announce $4.47 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for DISH Network’s earnings, with the highest sales estimate coming in at $4.59 billion and the lowest estimate coming in at $4.36 billion. DISH Network posted sales of $3.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 40.1%. The company is expected to report its next earnings report on Friday, August 6th.

According to Zacks, analysts expect that DISH Network will report full-year sales of $17.84 billion for the current year, with estimates ranging from $17.62 billion to $18.29 billion. For the next year, analysts forecast that the company will post sales of $17.72 billion, with estimates ranging from $17.08 billion to $20.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow DISH Network.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.52 billion. DISH Network had a net margin of 13.83% and a return on equity of 17.74%.

A number of research analysts have commented on DISH shares. Pivotal Research lifted their price objective on shares of DISH Network from $34.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 3rd. Morgan Stanley lifted their target price on shares of DISH Network from $45.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, May 3rd. HSBC lifted their target price on shares of DISH Network from $26.00 to $40.00 and gave the company a “reduce” rating in a report on Monday, May 24th. They noted that the move was a valuation call. Truist lifted their target price on shares of DISH Network from $32.00 to $40.00 in a report on Monday, May 3rd. Finally, JPMorgan Chase & Co. downgraded shares of DISH Network from a “neutral” rating to an “underweight” rating and set a $45.00 target price on the stock. in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. DISH Network currently has an average rating of “Hold” and a consensus price target of $45.58.

In related news, EVP Timothy A. Messner sold 10,000 shares of the business’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $43.00, for a total transaction of $430,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 13,600 shares of company stock worth $589,044. 54.50% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in shares of DISH Network by 2.5% in the first quarter. Daiwa Securities Group Inc. now owns 12,603 shares of the company’s stock valued at $456,000 after purchasing an additional 302 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of DISH Network by 1.7% in the first quarter. Norinchukin Bank The now owns 20,580 shares of the company’s stock valued at $745,000 after purchasing an additional 341 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of DISH Network by 4.4% in the first quarter. Cigna Investments Inc. New now owns 8,900 shares of the company’s stock valued at $323,000 after purchasing an additional 375 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of DISH Network by 1.3% in the first quarter. Mutual of America Capital Management LLC now owns 31,986 shares of the company’s stock valued at $1,158,000 after purchasing an additional 403 shares in the last quarter. Finally, Islay Capital Management LLC lifted its holdings in shares of DISH Network by 14.3% in the first quarter. Islay Capital Management LLC now owns 3,633 shares of the company’s stock valued at $132,000 after purchasing an additional 454 shares in the last quarter. 46.85% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ DISH traded down $0.38 during trading on Friday, reaching $40.06. The company’s stock had a trading volume of 3,041,338 shares, compared to its average volume of 4,252,788. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 5.80 and a beta of 2.16. DISH Network has a twelve month low of $24.51 and a twelve month high of $47.05. The business’s fifty day moving average is $42.31.

DISH Network Company Profile

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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Earnings History and Estimates for DISH Network (NASDAQ:DISH)

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