Zacks Investment Research cut shares of DISH Network (NASDAQ:DISH) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “DISH Network posted mixed fourth-quarter 2017 results, where the bottom line beat the Zacks Consensus Estimate, the top line lagged the same. In 2017, the company had 13.242 million Pay-TV subscribers, including 11.03 million DISH TV and 2.21 million Sling TV subscribers. DISH Network’s efforts to diversify its business from being a pure-play satellite-TV operator to an Internet TV operator should help it counter competitive threats from low-cost video streaming operators. Meanwhile, DISH Network continues to look for wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $50 billion. However, DISH Network continues to lose subscribers due to stiff competition and cord-cutting. Regulatory fines, programming and content expenses, retransmission fees and failure to strike any deal with wireless operators are other risks. In the past three months, the stock price underperformed its industry.”
Other research analysts have also recently issued research reports about the company. Pivotal Research upgraded DISH Network from a hold rating to a buy rating and dropped their price target for the company from $68.00 to $65.00 in a research report on Monday, November 6th. Citigroup upgraded DISH Network from a neutral rating to a buy rating in a research report on Wednesday, February 7th. Morgan Stanley cut DISH Network from an overweight rating to an equal weight rating and dropped their price target for the company from $75.00 to $55.00 in a research report on Wednesday, January 17th. SunTrust Banks restated a hold rating and issued a $60.00 price target on shares of DISH Network in a research report on Friday, November 10th. Finally, UBS Group dropped their price target on DISH Network from $68.00 to $56.00 and set a neutral rating for the company in a research report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $62.13.
Shares of DISH Network (NASDAQ DISH) traded up $0.61 during mid-day trading on Friday, hitting $44.48. The stock had a trading volume of 2,737,006 shares, compared to its average volume of 2,562,919. DISH Network has a twelve month low of $42.28 and a twelve month high of $66.50. The stock has a market capitalization of $20,459.08, a PE ratio of 10.96, a P/E/G ratio of 1.91 and a beta of 1.04. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 2.18.
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, beating analysts’ consensus estimates of $0.55 by $0.02. DISH Network had a return on equity of 22.56% and a net margin of 14.59%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. analysts forecast that DISH Network will post 2.22 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB increased its position in DISH Network by 9.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 31,777 shares of the company’s stock worth $1,517,000 after purchasing an additional 2,732 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in DISH Network by 6.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,521 shares of the company’s stock worth $4,084,000 after purchasing an additional 5,528 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in DISH Network during the 4th quarter worth about $363,000. MetLife Investment Advisors LLC purchased a new stake in DISH Network during the 4th quarter worth about $3,367,000. Finally, Gotham Asset Management LLC grew its holdings in DISH Network by 42.1% in the 4th quarter. Gotham Asset Management LLC now owns 296,118 shares of the company’s stock valued at $14,140,000 after buying an additional 87,718 shares during the period. Hedge funds and other institutional investors own 49.22% 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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