Dish Network (DISH) Receives $62.97 Consensus Target Price from Analysts

Dish Network (NASDAQ:DISH) has been given a consensus rating of “Hold” by the twenty-three brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $62.03.

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on Dish Network from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday. Cowen set a $54.00 target price on Dish Network and gave the company a “buy” rating in a research report on Monday, March 26th. Zacks Investment Research upgraded Dish Network from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Thursday, February 22nd. Pivotal Research restated a “buy” rating and set a $65.00 target price (down from $67.00) on shares of Dish Network in a research report on Thursday, February 22nd. Finally, Citigroup upgraded Dish Network from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 7th.

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DISH traded down $0.05 during midday trading on Thursday, hitting $38.92. 1,064,667 shares of the company were exchanged, compared to its average volume of 2,441,582. The company has a market capitalization of $17,973.28, a P/E ratio of 15.34, a P/E/G ratio of -7.80 and a beta of 1.13. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.61 and a current ratio of 0.68. Dish Network has a 1-year low of $36.00 and a 1-year high of $66.50.

Dish Network (NASDAQ:DISH) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.52 billion. Dish Network had a return on equity of 22.56% and a net margin of 14.59%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. analysts forecast that Dish Network will post 2.47 EPS for the current year.

In other Dish Network news, EVP Vivek Khemka sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $39.03, for a total value of $234,180.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey L. Mcschooler sold 739 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $37.66, for a total transaction of $27,830.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,190 shares of company stock worth $279,087. 49.20% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in DISH. Renaissance Technologies LLC raised its position in shares of Dish Network by 129.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,188,079 shares of the company’s stock valued at $56,731,000 after buying an additional 669,900 shares during the period. Ascend Capital LLC raised its position in shares of Dish Network by 96.2% during the 4th quarter. Ascend Capital LLC now owns 866,842 shares of the company’s stock valued at $41,392,000 after buying an additional 424,917 shares during the period. Honeycomb Asset Management LP purchased a new stake in shares of Dish Network during the 4th quarter valued at approximately $14,325,000. Two Sigma Investments LP raised its position in shares of Dish Network by 223.8% during the 4th quarter. Two Sigma Investments LP now owns 382,606 shares of the company’s stock valued at $18,269,000 after buying an additional 264,461 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of Dish Network by 26.8% during the 4th quarter. Guggenheim Capital LLC now owns 727,320 shares of the company’s stock valued at $34,729,000 after buying an additional 153,578 shares during the period. 48.22% of the stock is currently owned by hedge funds and other institutional investors.

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About Dish Network

DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.

Analyst Recommendations for Dish Network (NASDAQ:DISH)

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