Echostar (NASDAQ:ECHO – Get Free Report) had its price target boosted by stock analysts at UBS Group from $150.00 to $160.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group‘s price objective would suggest a potential upside of 62.24% from the stock’s current price.
A number of other brokerages have also recently weighed in on ECHO. TD Cowen dropped their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. Zacks Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Citigroup lowered their price target on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $139.44.
Read Our Latest Report on Echostar
Echostar Price Performance
Shares of NASDAQ:ECHO traded down $3.32 during midday trading on Wednesday, reaching $98.62. 7,372,652 shares of the company’s stock were exchanged, compared to its average volume of 6,127,450. The stock has a 50 day moving average price of $91.51. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $28.65 billion, a PE ratio of -3.96 and a beta of 1.06. Echostar has a fifty-two week low of $65.76 and a fifty-two week high of $147.25.
Echostar (NASDAQ:ECHO – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Equities research analysts predict that Echostar will post -0.27 earnings per share for the current fiscal year.
Insider Activity
In other news, Director William Wade sold 2,425 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the completion of the transaction, the director owned 324 shares of the company’s stock, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. The trade was a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,508 shares of company stock worth $1,224,686 in the last three months. Corporate insiders own 54.60% of the company’s stock.
Hedge Funds Weigh In On Echostar
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Echostar by 4.1% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock valued at $245,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC raised its holdings in Echostar by 1.1% during the third quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company’s stock worth $1,058,000 after purchasing an additional 123 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Echostar by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 16,977 shares of the company’s stock worth $1,518,000 after purchasing an additional 140 shares in the last quarter. North Dakota State Investment Board lifted its position in shares of Echostar by 3.9% during the 3rd quarter. North Dakota State Investment Board now owns 4,206 shares of the company’s stock worth $376,000 after buying an additional 158 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in shares of Echostar by 1.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 9,383 shares of the company’s stock worth $839,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.
Key Headlines Impacting Echostar
Here are the key news stories impacting Echostar this week:
- Positive Sentiment: SpaceX is reportedly exploring a deal to acquire Boost Mobile or use EchoStar’s network. A partnership could give Boost access to SpaceX’s satellite capabilities and strengthen EchoStar’s strategic value, though no agreement has been announced. SpaceX Explores Boost Mobile Acquisition for US Wireless Push
- Positive Sentiment: Morgan Stanley kept an “overweight” rating, indicating a favorable view, while trimming its price target slightly from $134 to $132. Morgan Stanley recommendations
- Negative Sentiment: The potential SpaceX deal remains speculative, and reports cite risks including litigation and reliance on rival carriers’ network leases. That uncertainty could limit enthusiasm until deal terms or a firm agreement emerge. SpaceX Starlink’s Telecom Ground Game Takes Shape
- Negative Sentiment: Despite reporting quarterly EPS of $7.97 versus a $3.07 consensus estimate, EchoStar recorded a negative net margin of 38.71%. A separate report frames the company’s financial picture as less compelling than the SpaceX-related excitement, potentially contributing to the shares’ pullback. EchoStar reports third-quarter results Financials paint a bleaker picture
Echostar Company Profile
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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