Echostar (NASDAQ:SATS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “EchoStar is a global provider of satellite service operations, video delivery services, broadband satellite technologies and broadband internet services for home and small office customers. They also deliver innovative network technologies, managed services, and various communications solutions for aeronautical, enterprise and government customers. “

Several other brokerages have also issued reports on SATS. Citigroup decreased their target price on Echostar from $45.00 to $36.00 in a research report on Tuesday, April 14th. ValuEngine raised Echostar from a “hold” rating to a “buy” rating in a research report on Wednesday, May 6th. Raymond James reissued a “strong-buy” rating and issued a $54.00 target price (down previously from $55.00) on shares of Echostar in a research report on Monday, May 18th. Finally, BidaskClub lowered Echostar from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Echostar presently has a consensus rating of “Hold” and a consensus target price of $44.67.

SATS traded down $0.18 during midday trading on Thursday, reaching $27.30. 309,601 shares of the company’s stock traded hands, compared to its average volume of 267,652. The firm has a fifty day moving average of $27.40 and a two-hundred day moving average of $32.45. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.69. Echostar has a 52 week low of $24.39 and a 52 week high of $45.15.

Echostar (NASDAQ:SATS) last released its quarterly earnings results on Thursday, May 7th. The communications equipment provider reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.31). The business had revenue of $465.70 million for the quarter, compared to the consensus estimate of $457.70 million. Echostar had a negative net margin of 6.83% and a negative return on equity of 3.41%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. Analysts predict that Echostar will post -1.23 EPS for the current year.

In related news, Director C Mike Schroeder sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $26.95, for a total value of $134,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 51.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SATS. Park West Asset Management LLC boosted its stake in Echostar by 106.6% during the 1st quarter. Park West Asset Management LLC now owns 1,415,609 shares of the communications equipment provider’s stock valued at $45,257,000 after purchasing an additional 730,499 shares during the last quarter. Norges Bank purchased a new position in shares of Echostar in the 4th quarter worth $26,336,000. State Street Corp boosted its stake in shares of Echostar by 22.7% in the 1st quarter. State Street Corp now owns 892,420 shares of the communications equipment provider’s stock worth $28,531,000 after buying an additional 164,865 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Echostar in the 2nd quarter worth $4,535,000. Finally, Deutsche Bank AG boosted its stake in shares of Echostar by 501.3% in the 1st quarter. Deutsche Bank AG now owns 130,599 shares of the communications equipment provider’s stock worth $4,175,000 after buying an additional 108,880 shares during the last quarter. Institutional investors and hedge funds own 45.29% of the company’s stock.

Echostar Company Profile

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.

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