Echostar (NASDAQ:SATS) Issues Quarterly Earnings Results

Share on StockTwits

Echostar (NASDAQ:SATS) announced its quarterly earnings data on Thursday. The communications equipment provider reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.20, Briefing.com reports. The company had revenue of $472.26 million during the quarter, compared to analyst estimates of $470.15 million. Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS.

SATS stock traded down $0.01 during mid-day trading on Friday, hitting $41.09. 585,100 shares of the company were exchanged, compared to its average volume of 489,080. The company has a market capitalization of $3.89 billion, a PE ratio of 108.13 and a beta of 0.81. The company has a current ratio of 6.10, a quick ratio of 5.94 and a debt-to-equity ratio of 0.62. Echostar has a twelve month low of $27.29 and a twelve month high of $43.04. The firm has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $41.41.

Several brokerages have weighed in on SATS. BidaskClub raised shares of Echostar from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Raymond James reissued a “strong-buy” rating and set a $61.00 price objective (down from $68.00) on shares of Echostar in a report on Wednesday, September 11th. Citigroup lowered shares of Echostar from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $44.00 in a report on Friday, October 4th. Zacks Investment Research lowered shares of Echostar from a “hold” rating to a “strong sell” rating in a report on Saturday, October 19th. Finally, ValuEngine lowered shares of Echostar from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Echostar presently has a consensus rating of “Hold” and an average price target of $49.67.

In other news, CEO Michael T. Dugan sold 100,000 shares of Echostar stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 52.00% of the stock is owned by company insiders.

About Echostar

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

Featured Article: How do analysts define an oversold condition?

Earnings History for Echostar (NASDAQ:SATS)

Receive News & Ratings for Echostar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echostar and related companies with MarketBeat.com's FREE daily email newsletter.