Dish Network (DISH) Debt Trading 1.1% Higher

An issue of Dish Network (NASDAQ:DISH) debt rose 1.1% as a percentage of its face value during trading on Thursday. The debt issue has a 7.75% coupon and will mature on July 1, 2026. The bonds in the issue are now trading at $87.00 and were trading at $87.90 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.

Several research analysts have weighed in on DISH shares. Citigroup upgraded Dish Network from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Morgan Stanley downgraded Dish Network from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $75.00 to $55.00 in a research note on Wednesday, January 17th. Moffett Nathanson upgraded Dish Network from a “sell” rating to a “neutral” rating and set a $37.00 target price on the stock in a research note on Friday, March 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Dish Network from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, February 22nd. Finally, SunTrust Banks lowered their target price on Dish Network to $44.00 and set a “hold” rating on the stock in a research note on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.75.

Shares of DISH traded down $0.33 during mid-day trading on Thursday, hitting $32.65. The company’s stock had a trading volume of 2,331,576 shares, compared to its average volume of 2,608,871. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.74 and a quick ratio of 0.66. The stock has a market capitalization of $14.92 billion, a P/E ratio of 12.85, a P/E/G ratio of -6.26 and a beta of 1.14. Dish Network has a 1-year low of $32.06 and a 1-year high of $32.78.

Dish Network (NASDAQ:DISH) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.02). The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.49 billion. Dish Network had a return on equity of 20.48% and a net margin of 14.75%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. research analysts anticipate that Dish Network will post 2.55 EPS for the current year.

In related news, EVP Vivek Khemka sold 6,000 shares of Dish Network stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $39.03, for a total transaction of $234,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey L. Mcschooler sold 739 shares of Dish Network stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $37.66, for a total value of $27,830.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,190 shares of company stock valued at $279,087. 49.20% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new position in Dish Network during the fourth quarter worth $105,000. NuWave Investment Management LLC raised its holdings in Dish Network by 102.2% during the first quarter. NuWave Investment Management LLC now owns 3,138 shares of the company’s stock worth $118,000 after purchasing an additional 1,586 shares during the last quarter. MUFG Americas Holdings Corp raised its holdings in shares of Dish Network by 86.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 2,800 shares of the company’s stock worth $133,000 after acquiring an additional 1,300 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dish Network by 249.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,355 shares of the company’s stock worth $160,000 after acquiring an additional 2,394 shares during the last quarter. Finally, Arlington Partners LLC acquired a new position in shares of Dish Network in the fourth quarter worth $191,000. 48.93% of the stock is owned by hedge funds and other institutional investors.

About Dish Network

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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