DISH Network (DISH) Sets New 1-Year Low at $42.97

DISH Network Corp (NASDAQ:DISH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $42.97 and last traded at $42.99, with a volume of 2440747 shares changing hands. The stock had previously closed at $44.73.

A number of brokerages have recently issued reports on DISH. Citigroup upgraded shares of DISH Network from a “neutral” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley cut shares of DISH Network from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $75.00 to $55.00 in a research report on Wednesday, January 17th. Zacks Investment Research cut shares of DISH Network from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $54.00 price objective (down from $56.00) on shares of DISH Network in a report on Wednesday, November 22nd. Finally, SunTrust Banks reissued a “hold” rating and set a $60.00 target price on shares of DISH Network in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.81.

The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 2.72. The firm has a market capitalization of $20,202.58, a PE ratio of 15.93, a P/E/G ratio of 1.89 and a beta of 1.04.

DISH Network (NASDAQ:DISH) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). DISH Network had a net margin of 7.22% and a return on equity of 25.97%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. DISH Network’s revenue for the quarter was down 5.0% on a year-over-year basis. analysts forecast that DISH Network Corp will post 2.02 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Financial Services Inc. bought a new stake in DISH Network during the third quarter worth about $140,000. Quantbot Technologies LP bought a new position in DISH Network in the 3rd quarter valued at approximately $154,000. Arlington Partners LLC bought a new position in DISH Network in the 4th quarter valued at approximately $191,000. Huntington National Bank raised its holdings in DISH Network by 47.1% in the 3rd quarter. Huntington National Bank now owns 3,824 shares of the company’s stock valued at $207,000 after buying an additional 1,224 shares during the last quarter. Finally, Howe & Rusling Inc. acquired a new stake in DISH Network during the 3rd quarter valued at approximately $217,000. Institutional investors and hedge funds own 48.50% of the company’s stock.

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DISH Network Company Profile

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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