Zacks Investment Research downgraded shares of DISH Network (NASDAQ:DISH) from a hold rating to a sell rating in a report issued on Tuesday, January 9th.
According to Zacks, “DISH Network continues to lose subscribers due to stiff competition and cord-cutting. The company’s liquidity position is disappointing. Moreover, regulatory fines, programming and content expenses, retransmission fees, persistent loss of subscribers and failure to strike any deal with wireless operators are other risks. Penalty of $280 million in a telemarketing lawsuit remains a woe. Over the past three months, the stock price declined 5.4% as against the industry's gain of 2.2%. On the flip side, we appreciate DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator. This should help the company counter competitive threats from low-cost video streaming operators. Launch of a mobile app, DISH Music bode well. Moreover, DISH Network is looking for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion.”
A number of other brokerages have also weighed in on DISH. Macquarie reaffirmed a hold rating and issued a $60.00 price objective (down previously from $68.00) on shares of DISH Network in a report on Monday, October 2nd. Deutsche Bank reaffirmed a buy rating and issued a $99.00 price objective on shares of DISH Network in a report on Thursday, October 5th. Moffett Nathanson reaffirmed a sell rating and issued a $37.00 price objective (down previously from $45.00) on shares of DISH Network in a report on Tuesday, September 26th. Jefferies Group reaffirmed a buy rating and issued a $80.00 price objective on shares of DISH Network in a report on Monday, September 25th. Finally, Citigroup raised DISH Network from a sell rating to a neutral rating and set a $54.00 price objective on the stock in a report on Friday, September 15th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. DISH Network has a consensus rating of Hold and an average price target of $63.92.
Shares of DISH Network (NASDAQ DISH) opened at $49.48 on Tuesday. DISH Network has a twelve month low of $46.07 and a twelve month high of $66.50. The firm has a market capitalization of $23,075.34, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.63 and a quick ratio of 0.57.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the firm posted $0.64 EPS. DISH Network’s revenue for the quarter was down 5.0% compared to the same quarter last year. equities research analysts forecast that DISH Network will post 1.98 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Sun Life Financial INC raised its position in shares of DISH Network by 20,725.0% during the 2nd quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock worth $105,000 after purchasing an additional 1,658 shares during the last quarter. Rockefeller Financial Services Inc. acquired a new position in shares of DISH Network during the 3rd quarter worth approximately $140,000. Quantbot Technologies LP acquired a new position in shares of DISH Network during the 3rd quarter worth approximately $154,000. Huntington National Bank raised its position in shares of DISH Network by 47.1% during the 3rd quarter. Huntington National Bank now owns 3,824 shares of the company’s stock worth $207,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Howe & Rusling Inc. acquired a new position in shares of DISH Network during the 3rd quarter worth approximately $217,000. Institutional investors own 48.54% of the company’s stock.
About DISH Network
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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