Echostar Co. (NASDAQ:SATS) was the recipient of a significant decline in short interest during the month of December. As of December 29th, there was short interest totalling 292,540 shares, a decline of 49.3% from the December 15th total of 576,632 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 103,015 shares, the days-to-cover ratio is presently 2.8 days.
Shares of Echostar (NASDAQ SATS) opened at $60.99 on Wednesday. Echostar has a twelve month low of $49.82 and a twelve month high of $62.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. The stock has a market capitalization of $5,840.00, a PE ratio of 52.13, a PEG ratio of 3.22 and a beta of 0.78.
Echostar (NASDAQ:SATS) last issued its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.37. Echostar had a return on equity of 2.85% and a net margin of 5.55%. The firm had revenue of $481.20 million for the quarter, compared to analysts’ expectations of $477.33 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. research analysts anticipate that Echostar will post 0.97 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SATS. Schwab Charles Investment Management Inc. increased its stake in Echostar by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 223,807 shares of the communications equipment provider’s stock worth $13,586,000 after acquiring an additional 12,061 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Echostar by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 252,875 shares of the communications equipment provider’s stock worth $15,349,000 after acquiring an additional 2,516 shares during the last quarter. Prudential Financial Inc. bought a new stake in Echostar during the second quarter worth approximately $1,503,000. Swiss National Bank increased its stake in Echostar by 2.0% during the second quarter. Swiss National Bank now owns 78,200 shares of the communications equipment provider’s stock worth $4,747,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Echostar by 0.9% during the second quarter. Wells Fargo & Company MN now owns 128,403 shares of the communications equipment provider’s stock worth $7,794,000 after acquiring an additional 1,100 shares during the last quarter. 44.48% of the stock is currently owned by institutional investors.
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Echostar 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.
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