TD Cowen Forecasts Strong Price Appreciation for EchoStar (NASDAQ:SATS) Stock

by · The Cerbat Gem

EchoStar (NASDAQ:SATS – Get Free Report) had its price target upped by stock analysts at TD Cowen from $100.00 to $158.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. TD Cowen’s price objective indicates a potential upside of 41.20% from the stock’s previous close.

Several other research firms have also recently issued reports on SATS. Cowen reaffirmed a “buy” rating on shares of EchoStar in a research report on Wednesday. Williams Trading set a $158.00 price target on EchoStar in a research note on Wednesday. UBS Group upped their price objective on EchoStar from $28.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Morgan Stanley upgraded EchoStar from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $110.00 in a report on Wednesday, December 10th. Finally, Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and an average price target of $132.17.

Check Out Our Latest Stock Analysis on SATS

EchoStar Stock Down 3.6%

Shares of EchoStar stock traded down $4.16 on Wednesday, reaching $111.90. 2,328,099 shares of the company were exchanged, compared to its average volume of 4,457,917. The stock’s 50 day moving average price is $86.75 and its 200-day moving average price is $63.26. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.61 and a quick ratio of 0.56. EchoStar has a 1-year low of $14.90 and a 1-year high of $117.15. The company has a market cap of $32.21 billion, a P/E ratio of -2.49 and a beta of 1.02.

EchoStar (NASDAQ:SATS – Get Free Report) last issued its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative net margin of 85.36% and a positive return on equity of 0.39%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the business earned ($0.52) EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts forecast that EchoStar will post -1.99 EPS for the current year.

Insider Activity

In other news, CEO Hamid Akhavan sold 285,832 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the sale, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at approximately $39,688,870.65. The trade was a 43.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Swieringa sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $67.34, for a total value of $1,481,480.00. Following the transaction, the chief operating officer owned 283,509 shares in the company, valued at $19,091,496.06. This represents a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SATS. Vigilare Wealth Management acquired a new position in EchoStar in the fourth quarter valued at $542,000. GAMMA Investing LLC grew its holdings in shares of EchoStar by 32.1% during the fourth quarter. GAMMA Investing LLC now owns 3,683 shares of the communications equipment provider’s stock worth $400,000 after buying an additional 895 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new position in shares of EchoStar during the fourth quarter worth about $29,000. Mirabella Financial Services LLP acquired a new position in EchoStar in the 3rd quarter valued at about $420,000. Finally, New Mexico Educational Retirement Board raised its stake in EchoStar by 7.3% during the 3rd quarter. New Mexico Educational Retirement Board now owns 26,600 shares of the communications equipment provider’s stock valued at $2,031,000 after acquiring an additional 1,800 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

About EchoStar

(Get Free Report)

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.

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