Echostar CORP (NASDAQ:ECHO) Stock Has Average Target Price of $138.56 According to Brokerages

Echostar CORP (NASDAQ:ECHO – Get Free Report) has been given an average recommendation of “Buy” by the ten research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $138.56.

ECHO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. UBS Group raised Echostar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $127.00 to $150.00 in a research note on Tuesday, September 8th. TD Cowen cut their price objective on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Zacks Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price for the company in a report on Friday, July 17th.

View Our Latest Analysis on ECHO

Key Stories Impacting Echostar

Here are the key news stories impacting Echostar this week:

  • Positive Sentiment: Reports of SpaceX’s interest have supported ECHO shares. Boost Mobile’s subscriber base and cellular infrastructure could help SpaceX expand its Starlink wireless plans, while a transaction could provide EchoStar with proceeds or strategic value. MarketWatch article on SpaceX talks
  • Positive Sentiment: EchoStar reported third-quarter EPS of $7.97, above the cited analyst consensus of $3.07. MarketBeat earnings report
  • Neutral Sentiment: The SpaceX discussions remain preliminary, and the potential deal’s structure and financial terms have not been disclosed. Data Center Dynamics article
  • Negative Sentiment: Execution could be complicated because Boost relies on network-leasing arrangements with incumbent carriers, which may be difficult to maintain or transfer if the business changes hands. EchoStar also reported a negative net margin of 38.71% and negative return on equity, underscoring financial pressure despite the EPS beat.

Echostar Price Performance

NASDAQ ECHO opened at $101.94 on Friday. Echostar has a 12 month low of $65.76 and a 12 month high of $147.25. The company has a market cap of $29.61 billion, a P/E ratio of -4.09 and a beta of 1.06. The stock has a 50 day simple moving average of $91.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

Echostar (NASDAQ:ECHO – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $4.90. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $3.00 million. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. On average, analysts anticipate that Echostar will post -0.27 earnings per share for the current year.

Insider Activity at Echostar

In related news, Director Stephen Bye sold 8,508 shares of the firm’s 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 completion of the transaction, the director owned 653 shares of the company’s stock, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Wade sold 2,425 shares of Echostar stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at approximately $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,508 shares of company stock valued at $1,224,686. 54.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Echostar

A number of institutional investors have recently bought and sold shares of the business. Tidal Investments LLC bought a new position in Echostar in the 2nd quarter worth $159,344,000. Tema ETFs LLC boosted its holdings in Echostar by 83,917.0% during the second quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock valued at $156,228,000 after acquiring an additional 1,537,359 shares during the period. Van ECK Associates Corp bought a new stake in Echostar during the second quarter valued at about $139,004,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Echostar in the third quarter valued at about $64,207,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Echostar in the second quarter valued at about $48,405,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Echostar Company Profile

(Get Free Report)

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.

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Analyst Recommendations for Echostar (NASDAQ:ECHO)

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