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.
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.
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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