BidaskClub cut shares of Echostar (NASDAQ:SATS) from a buy rating to a hold rating in a research note published on Saturday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. Raymond James set a C$0.50 price target on shares of Obsidian Energy and gave the company a market perform rating in a report on Tuesday, May 21st. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a report on Thursday, July 4th. Finally, Daiwa Capital Markets cut shares of Baidu from a buy rating to a neutral rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Echostar has an average rating of Buy and a consensus target price of $57.00.

NASDAQ SATS traded up $0.61 on Friday, hitting $46.08. 185,105 shares of the stock were exchanged, compared to its average volume of 381,691. Echostar has a 52-week low of $33.58 and a 52-week high of $49.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.73 and a quick ratio of 2.68. The company has a market cap of $4.41 billion, a P/E ratio of 121.26 and a beta of 0.76. The business’s 50-day moving average price is $44.30.

Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Echostar had a negative net margin of 0.20% and a positive return on equity of 0.87%. The business had revenue of $531.08 million for the quarter, compared to analysts’ expectations of $529.55 million. During the same period in the previous year, the company posted ($0.22) EPS. Echostar’s revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that Echostar will post 0.96 EPS for the current fiscal year.

In related news, CEO Michael T. Dugan sold 50,000 shares of Echostar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $42.89, for a total value of $2,144,500.00. Following the completion of the sale, the chief executive officer now owns 75,146 shares of the company’s stock, valued at approximately $3,223,011.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 51.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in shares of Echostar by 600.0% during the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 600 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in Echostar in the second quarter valued at about $107,000. Convergence Investment Partners LLC bought a new stake in Echostar in the second quarter valued at about $116,000. Amundi Pioneer Asset Management Inc. bought a new stake in Echostar in the fourth quarter valued at about $169,000. Finally, Fox Run Management L.L.C. bought a new stake in Echostar in the second quarter valued at about $277,000. 47.47% of the stock is owned by institutional investors and hedge funds.

About Echostar

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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