EchoStar Corporation (SATS) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

EchoStar Corporation (NASDAQ:SATS) posted its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.05, Bloomberg Earnings reports. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. During the same quarter last year, the business earned $0.47 earnings per share. EchoStar Corporation’s quarterly revenue was up 5.1% on a year-over-year basis.

EchoStar Corporation (NASDAQ SATS) traded down 1.20% during trading on Friday, hitting $56.94. The stock had a trading volume of 80,453 shares. The stock has a 50 day moving average price of $59.83 and a 200 day moving average price of $57.73. EchoStar Corporation has a 12-month low of $37.30 and a 12-month high of $62.50. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 45.23 and a beta of 0.70.

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Several equities analysts have weighed in on the company. BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded EchoStar Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, May 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.33.

In other EchoStar Corporation news, insider Pradman P. Kaul sold 5,001 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $59.75, for a total value of $298,809.75. Following the transaction, the insider now directly owns 5,001 shares of the company’s stock, valued at approximately $298,809.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Pradman P. Kaul sold 14,999 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $58.25, for a total transaction of $873,691.75. Following the completion of the transaction, the insider now directly owns 4,999 shares in the company, valued at $291,191.75. The disclosure for this sale can be found here. Insiders sold a total of 56,946 shares of company stock valued at $3,429,331 over the last quarter. 73.54% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in EchoStar Corporation by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 250,359 shares of the communications equipment provider’s stock valued at $14,258,000 after buying an additional 4,936 shares in the last quarter. US Bancorp DE boosted its position in EchoStar Corporation by 4.6% in the first quarter. US Bancorp DE now owns 12,313 shares of the communications equipment provider’s stock valued at $701,000 after buying an additional 546 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in EchoStar Corporation by 8.4% in the first quarter. Bbva Compass Bancshares Inc. now owns 16,651 shares of the communications equipment provider’s stock valued at $948,000 after buying an additional 1,285 shares in the last quarter. First Trust Advisors LP boosted its position in EchoStar Corporation by 4.4% in the first quarter. First Trust Advisors LP now owns 50,591 shares of the communications equipment provider’s stock valued at $2,881,000 after buying an additional 2,126 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in EchoStar Corporation by 5.3% in the first quarter. Wells Fargo & Company MN now owns 127,303 shares of the communications equipment provider’s stock valued at $7,249,000 after buying an additional 6,463 shares in the last quarter. 44.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History for EchoStar Corporation (NASDAQ:SATS)

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