Echostar CORP (NASDAQ:ECHO) Given Average Recommendation of “Moderate Buy” by Brokerages

Echostar CORP (NASDAQ:ECHOGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $137.8750.

A number of analysts have commented on the stock. TD Cowen lowered their target price on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Morgan Stanley reissued an “overweight” rating and issued a $134.00 price target on shares of Echostar in a research note on Monday. UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $150.00 in a research report on Tuesday, September 8th. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research note on Friday, July 17th. Finally, Weiss Ratings initiated coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating for the company.

Check Out Our Latest Stock Analysis on Echostar

Insider Transactions at Echostar

In related news, Director Stephen J. Bye sold 8,508 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Wade sold 2,575 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the sale, the director owned 2,749 shares in the company, valued at $254,694.85. This represents a 48.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,508 shares of company stock worth $1,224,686. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Echostar

Large investors have recently bought and sold shares of the company. SkyView Investment Advisors LLC acquired a new stake in Echostar in the second quarter worth $355,000. The Manufacturers Life Insurance Company acquired a new position in shares of Echostar in the 2nd quarter valued at $8,101,000. Sequoia Financial Advisors LLC bought a new stake in shares of Echostar in the 2nd quarter valued at $367,000. Tidal Investments LLC acquired a new stake in Echostar during the 2nd quarter worth $159,344,000. Finally, National Pension Service acquired a new stake in Echostar during the 2nd quarter worth $1,246,000. Institutional investors own 33.62% of the company’s stock.

Echostar Trading Up 1.5%

Shares of NASDAQ ECHO opened at $93.46 on Friday. The company has a market cap of $27.15 billion, a price-to-earnings ratio of -3.75 and a beta of 1.00. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar has a 1 year low of $65.76 and a 1 year high of $147.25. The company has a 50-day simple moving average of $89.87.

Echostar (NASDAQ:ECHOGet Free Report) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The business had revenue of $3.67 billion for the quarter. As a group, equities research analysts anticipate that Echostar will post -1.35 earnings per share for the current fiscal year.

Echostar Company Profile

(Get Free Report)

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.

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Analyst Recommendations for Echostar (NASDAQ:ECHO)

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