EchoStar Corp. (SATS) Trading 2.7% Higher

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EchoStar Corp. (NASDAQ:SATS) traded up 2.7% during mid-day trading on Monday . The company traded as high as $39.82 and last traded at $39.64, with a volume of 88,364 shares traded. The stock had previously closed at $38.60.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of EchoStar Corp. from a “strong sell” rating to a “hold” rating in a report on Saturday, September 3rd. Citigroup Inc. raised their price target on shares of EchoStar Corp. from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Macquarie reissued an “outperform” rating and issued a $55.00 price target on shares of EchoStar Corp. in a report on Friday, July 8th. Finally, TheStreet lowered shares of EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th.
The company has a market capitalization of $3.74 billion, a PE ratio of 18.37 and a beta of 1.02. The company has a 50 day moving average of $38.58 and a 200-day moving average of $40.30.

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EchoStar Corp. (NASDAQ:SATS) last released its earnings results on Tuesday, August 9th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.43 by $0.17. EchoStar Corp. had a net margin of 6.31% and a return on equity of 5.17%. The firm had revenue of $757.60 million for the quarter, compared to the consensus estimate of $766.99 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities analysts predict that EchoStar Corp. will post $1.78 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in EchoStar Corp. by 7.9% in the second quarter. Public Employees Retirement System of Ohio now owns 12,670 shares of the company’s stock valued at $503,000 after buying an additional 926 shares during the period. Calvert Investment Management Inc. increased its position in EchoStar Corp. by 1.0% in the second quarter. Calvert Investment Management Inc. now owns 5,229 shares of the company’s stock valued at $208,000 after buying an additional 54 shares during the period. Schwab Charles Investment Management Inc. increased its position in EchoStar Corp. by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 188,712 shares of the company’s stock valued at $7,492,000 after buying an additional 18,981 shares during the period. Amalgamated Bank increased its position in EchoStar Corp. by 7.1% in the second quarter. Amalgamated Bank now owns 5,493 shares of the company’s stock valued at $204,000 after buying an additional 364 shares during the period. Finally, Legal & General Group Plc increased its position in EchoStar Corp. by 29.0% in the second quarter. Legal & General Group Plc now owns 20,994 shares of the company’s stock valued at $834,000 after buying an additional 4,716 shares during the period. 44.02% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Corp. Company Profile
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.

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