EchoStar Corporation (SATS) Bonds Rise 0.6% During Trading
An issue of EchoStar Corporation (NASDAQ:SATS) debt rose 0.6% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 6.625% coupon and will mature on August 1, 2026. The debt is now trading at $106.00. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
SATS has been the topic of several research analyst reports. Jefferies Group LLC assumed coverage on shares of EchoStar Corporation in a research report on Friday, September 8th. They issued a “hold” rating and a $65.00 target price on the stock. TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $63.33.
EchoStar Corporation (NASDAQ:SATS) traded up $3.07 on Wednesday, reaching $56.95. 259,090 shares of the company were exchanged, compared to its average volume of 117,859. The firm has a market capitalization of $5,151.60, a price-to-earnings ratio of 44.88, a PEG ratio of 3.85 and a beta of 0.76. EchoStar Corporation has a 52-week low of $44.01 and a 52-week high of $62.50. The company has a quick ratio of 8.88, a current ratio of 9.11 and a debt-to-equity ratio of 0.94.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $465.08 million for the quarter, compared to analyst estimates of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. equities analysts anticipate that EchoStar Corporation will post 0.65 EPS for the current year.
In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total transaction of $418,556.16. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $117,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. Insiders own 73.54% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. raised its stake in EchoStar Corporation by 84.1% during the third quarter. Assetmark Inc. now owns 4,994 shares of the communications equipment provider’s stock worth $286,000 after purchasing an additional 2,281 shares during the period. Pacer Advisors Inc. raised its stake in EchoStar Corporation by 35.8% during the third quarter. Pacer Advisors Inc. now owns 9,581 shares of the communications equipment provider’s stock worth $548,000 after purchasing an additional 2,527 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in EchoStar Corporation by 4.1% during the third quarter. Thompson Siegel & Walmsley LLC now owns 352,961 shares of the communications equipment provider’s stock worth $20,200,000 after purchasing an additional 13,867 shares during the period. Macquarie Group Ltd. purchased a new position in EchoStar Corporation during the third quarter worth about $263,000. Finally, SG Americas Securities LLC purchased a new position in EchoStar Corporation during the third quarter worth about $145,000. 44.94% of the stock is currently owned by institutional investors.
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EchoStar Corporation Company Profile
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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