DISH Network (NASDAQ:DISH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, September 17th. The brokerage presently has a $42.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 27.58% from the stock’s previous close.
According to Zacks, “DISH’s efforts to diversify its business from being a pure-play satellite-TV operator to an Internet TV operator is expected to help it counter competitive threats from low-cost video streaming operators. Sling TV subscriber base is increasing, which is a positive for the company’s top-line growth. Moreover, DISH’s focus on acquiring and retaining subscribers that are profitable over the long term, is paying off. The company’s excellent customer service is improving retention, as reflected by lower churn rate. Further, DISH has ample wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion. However, escalating programming and content expenses, retransmission fees and failure to strike any deal with wireless operators are major concerns. Shares have underperformed the industry on a year-to-date basis.”
A number of other analysts have also weighed in on the stock. Pivotal Research restated a “buy” rating and issued a $40.00 target price on shares of DISH Network in a research report on Monday, August 6th. BidaskClub upgraded shares of DISH Network from a “strong sell” rating to a “sell” rating in a research report on Friday, June 8th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $50.00 target price on shares of DISH Network in a research report on Monday, August 6th. Goldman Sachs Group lowered shares of DISH Network from a “buy” rating to a “neutral” rating and cut their price target for the stock from $63.00 to $39.00 in a report on Thursday, June 21st. Finally, Cowen reiterated a “buy” rating and set a $60.00 price target on shares of DISH Network in a report on Monday, August 6th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. DISH Network presently has an average rating of “Hold” and a consensus target price of $44.08.
Shares of NASDAQ DISH traded up $1.05 during trading hours on Monday, hitting $32.92. 3,454,240 shares of the stock were exchanged, compared to its average volume of 2,871,974. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 12.96 and a beta of 1.21. DISH Network has a 1-year low of $28.80 and a 1-year high of $52.53.
DISH Network (NASDAQ:DISH) last posted its quarterly earnings results on Friday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.44 billion. DISH Network had a net margin of 17.80% and a return on equity of 20.60%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, equities research analysts forecast that DISH Network will post 2.77 earnings per share for the current year.
In other news, insider James Defranco bought 5,000 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was acquired at an average price of $32.99 per share, with a total value of $164,950.00. Following the completion of the purchase, the insider now directly owns 1,168,529 shares of the company’s stock, valued at $38,549,771.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have bought 60,000 shares of company stock worth $1,958,500. 49.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signet Financial Management LLC raised its stake in DISH Network by 188,000.0% during the second quarter. Signet Financial Management LLC now owns 3,762 shares of the company’s stock worth $126,000 after buying an additional 3,760 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its stake in DISH Network by 2,135.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,521 shares of the company’s stock worth $209,000 after buying an additional 5,274 shares during the last quarter. WINTON GROUP Ltd bought a new position in DISH Network during the first quarter worth $219,000. Tower Research Capital LLC TRC raised its stake in DISH Network by 293.5% during the second quarter. Tower Research Capital LLC TRC now owns 6,618 shares of the company’s stock worth $222,000 after buying an additional 4,936 shares during the last quarter. Finally, Insight 2811 Inc. bought a new position in DISH Network during the second quarter worth $233,000. 48.26% of the stock is owned by institutional investors and hedge funds.
About DISH Network
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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