EchoStar (NASDAQ:SATS) Posts Quarterly Earnings Results, Beats Estimates By $1.87 EPS

EchoStar (NASDAQ:SATS) posted its quarterly earnings data on Thursday. The communications equipment provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.87, Zacks reports. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%.

EchoStar Stock Up 2.0 %

Shares of SATS traded up $0.61 during trading hours on Friday, hitting $31.02. The company had a trading volume of 1,267,415 shares, compared to its average volume of 1,719,822. EchoStar has a one year low of $11.83 and a one year high of $31.02. The company’s fifty day moving average price is $26.36 and its two-hundred day moving average price is $24.34. The company has a market capitalization of $8.43 billion, a PE ratio of -3.38 and a beta of 0.72. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

Analyst Ratings Changes

A number of research firms recently issued reports on SATS. Morgan Stanley started coverage on shares of EchoStar in a research note on Monday, December 16th. They set an “equal weight” rating and a $25.00 price target on the stock. UBS Group upped their target price on shares of EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. TD Cowen dropped their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.75.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.