DISH Network (NASDAQ:DISH) Hits New 1-Year Low Following Analyst Downgrade

DISH Network Co. (NASDAQ:DISHGet Rating)’s share price reached a new 52-week low during trading on Thursday after Truist Financial lowered their price target on the stock from $32.00 to $25.00. The company traded as low as $17.29 and last traded at $17.46, with a volume of 18685822 shares. The stock had previously closed at $21.75.

Other research analysts have also recently issued reports about the company. Credit Suisse Group upgraded DISH Network from a “neutral” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Monday, May 9th. Barclays reduced their price target on DISH Network from $28.00 to $25.00 in a research report on Wednesday. StockNews.com initiated coverage on DISH Network in a research report on Thursday, March 31st. They set a “sell” rating for the company. Benchmark reduced their price target on DISH Network from $50.00 to $37.00 in a research report on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on DISH Network from $67.00 to $61.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.17.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Westpac Banking Corp increased its position in shares of DISH Network by 2.2% during the fourth quarter. Westpac Banking Corp now owns 16,440 shares of the company’s stock worth $533,000 after purchasing an additional 348 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of DISH Network by 0.3% during the first quarter. Chevy Chase Trust Holdings Inc. now owns 150,131 shares of the company’s stock worth $4,752,000 after purchasing an additional 376 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of DISH Network by 16.7% during the first quarter. Dupont Capital Management Corp now owns 2,849 shares of the company’s stock worth $90,000 after purchasing an additional 408 shares in the last quarter. Brown Advisory Inc. increased its position in shares of DISH Network by 4.3% during the first quarter. Brown Advisory Inc. now owns 11,529 shares of the company’s stock worth $373,000 after purchasing an additional 475 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its position in shares of DISH Network by 1.8% during the third quarter. Achmea Investment Management B.V. now owns 31,722 shares of the company’s stock worth $1,379,000 after purchasing an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

The company has a quick ratio of 1.07, a current ratio of 0.66 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $11.04 billion, a PE ratio of 5.98, a PEG ratio of 1.42 and a beta of 1.92. The company has a 50-day moving average of $29.83 and a 200 day moving average of $32.08.

DISH Network (NASDAQ:DISHGet Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.01). The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.39 billion. DISH Network had a return on equity of 14.56% and a net margin of 12.49%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, equities analysts predict that DISH Network Co. will post 2.55 EPS for the current fiscal year.

About DISH Network (NASDAQ:DISH)

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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