$502.10 Million in Sales Expected for Echostar Co. (SATS) This Quarter

Equities research analysts expect that Echostar Co. (NASDAQ:SATS) will announce $502.10 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Echostar’s earnings, with the highest sales estimate coming in at $503.30 million and the lowest estimate coming in at $500.90 million. Echostar posted sales of $740.39 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 32.2%. The company is scheduled to issue its next earnings results on Friday, February 23rd.

On average, analysts expect that Echostar will report full-year sales of $502.10 million for the current year, with estimates ranging from $1.88 billion to $1.90 billion. For the next year, analysts anticipate that the business will post sales of $2.13 billion per share, with estimates ranging from $2.08 billion to $2.20 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Echostar.

SATS has been the subject of several research reports. Zacks Investment Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a report on Friday, November 10th. Jefferies Group set a $70.00 price target on shares of Echostar and gave the company a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Echostar has a consensus rating of “Buy” and an average price target of $68.33.

Echostar (NASDAQ SATS) traded down $1.49 during midday trading on Thursday, hitting $56.52. 205,715 shares of the stock traded hands, compared to its average volume of 110,816. Echostar has a 1-year low of $51.54 and a 1-year 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 firm has a market cap of $5,410.43, a price-to-earnings ratio of 45.58, a PEG ratio of 2.97 and a beta of 0.74.

In other Echostar news, CEO Michael T. Dugan sold 1,800 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $62.11, for a total transaction of $111,798.00. Following the completion of the transaction, the chief executive officer now directly owns 26,746 shares of the company’s stock, valued at approximately $1,661,194.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael T. Dugan sold 3,508 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $62.00, for a total transaction of $217,496.00. The disclosure for this sale can be found here. Insiders own 73.54% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Echostar by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock valued at $182,177,000 after purchasing an additional 299,543 shares during the period. BlackRock Inc. boosted its stake in Echostar by 1.5% during the 4th quarter. BlackRock Inc. now owns 2,093,821 shares of the communications equipment provider’s stock valued at $125,420,000 after purchasing an additional 30,922 shares during the period. Thornburg Investment Management Inc. boosted its stake in Echostar by 21.0% during the 3rd quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock valued at $115,856,000 after purchasing an additional 350,961 shares during the period. State Street Corp boosted its stake in Echostar by 2.7% during the 2nd quarter. State Street Corp now owns 693,263 shares of the communications equipment provider’s stock valued at $42,081,000 after purchasing an additional 18,468 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Echostar by 1.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 635,000 shares of the communications equipment provider’s stock valued at $36,341,000 after purchasing an additional 10,000 shares during the period. 44.51% of the stock is owned by hedge funds and other institutional investors.

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About Echostar

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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