DISH Network (DISH) Stock Price Down 5.2%

DISH Network Corp (NASDAQ:DISH)’s share price fell 5.2% during trading on Wednesday . The company traded as low as $49.29 and last traded at $49.31. 3,568,543 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 2,678,151 shares. The stock had previously closed at $52.03.

A number of research firms have recently commented on DISH. Moffett Nathanson reissued a “sell” rating and issued a $37.00 price target (down previously from $45.00) on shares of DISH Network in a research report on Tuesday, September 26th. BidaskClub lowered shares of DISH Network from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. dropped their target price on shares of DISH Network from $62.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, October 17th. Guggenheim reaffirmed a “neutral” rating and set a $62.00 target price (down previously from $68.00) on shares of DISH Network in a research report on Thursday, August 24th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $80.00 target price on shares of DISH Network in a research report on Monday, September 25th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. DISH Network presently has an average rating of “Hold” and an average target price of $63.92.

The company has a debt-to-equity ratio of 2.72, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a market capitalization of $24,064.02, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.09.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). DISH Network had a return on equity of 25.97% and a net margin of 7.22%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. equities analysts forecast that DISH Network Corp will post 1.98 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ray Gerald L & Associates Ltd. boosted its stake in DISH Network by 113.6% during the third quarter. Ray Gerald L & Associates Ltd. now owns 12,600 shares of the company’s stock worth $683,000 after buying an additional 6,700 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in DISH Network by 10.4% during the second quarter. State of Tennessee Treasury Department now owns 168,943 shares of the company’s stock worth $10,603,000 after buying an additional 15,978 shares in the last quarter. Swiss National Bank boosted its stake in DISH Network by 3.3% during the second quarter. Swiss National Bank now owns 829,109 shares of the company’s stock worth $52,035,000 after buying an additional 26,200 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in DISH Network during the second quarter worth $304,000. Finally, Quantitative Systematic Strategies LLC boosted its stake in DISH Network by 33.9% during the third quarter. Quantitative Systematic Strategies LLC now owns 5,683 shares of the company’s stock worth $308,000 after buying an additional 1,439 shares in the last quarter. Hedge funds and other institutional investors own 48.58% of the company’s stock.

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About DISH Network

DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.

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