Echostar (NASDAQ:ECHO) Stock Rating Upgraded by Zacks Research

by · The Cerbat Gem

Echostar (NASDAQ:ECHO – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

ECHO has been the topic of a number of other research reports. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a research note on Friday, July 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $134.00 target price on shares of Echostar in a report on Monday, September 14th. Citigroup decreased their target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. JPMorgan Chase & Co. began coverage on shares of Echostar in a report on Friday, October 16th. They set an “overweight” rating and a $144.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $138.56.

View Our Latest Stock Report on ECHO

Echostar Stock Up 0.2%

Echostar stock opened at $86.39 on Monday. The firm has a market capitalization of $25.10 billion, a price-to-earnings ratio of -3.47 and a beta of 0.99. Echostar has a 52 week low of $65.76 and a 52 week high of $147.25. The business’s 50-day moving average is $90.71. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20.

Echostar (NASDAQ:ECHO – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $24.14. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business earned ($1.06) earnings per share. Echostar’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts expect that Echostar will post -0.35 EPS for the current year.

Insider Transactions at Echostar

In related news, Director William Wade sold 2,425 shares of Echostar stock in a transaction dated Thursday, August 13th. The stock was 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 in the company, valued at $29,639.52. The trade was a 88.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bye sold 8,508 shares of Echostar stock in a transaction dated 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 represents a 92.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,508 shares of company stock worth $1,224,686 over the last 90 days. Insiders own 54.60% of the company’s stock.

Institutional Trading of Echostar

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in shares of Echostar during the 2nd quarter worth approximately $159,344,000. Tema ETFs LLC raised its stake in shares of Echostar by 83,917.0% during the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after buying an additional 1,537,359 shares during the period. Van ECK Associates Corp purchased a new position in shares of Echostar during the 2nd quarter valued at approximately $139,004,000. Hennessy Advisors Inc. purchased a new position in shares of Echostar during the 2nd quarter valued at approximately $48,405,000. Finally, Amundi purchased a new position in shares of Echostar during the 2nd quarter valued at approximately $41,808,000. 33.62% of the stock is owned by institutional investors and hedge funds.

About Echostar

(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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