The Vanguard Group, Inc. recently announced the acquisition of new stake in EchoStar Corp (NASDAQ:SATS). The institutional investor has increased its shareholding in the Technology company by 0.99% to 3.41 million shares with purchase of 33340.0 shares. This fresh investment now brings its stake to 9.42% valued currently at $35.72 million. In addition, Beryl Capital Management LLC raised its holdings by 2.15 million to 2.15 million shares.
With over 17.28 million EchoStar Corp (SATS) shares trading Friday and a closing price of $16.57 on the day, the dollar volume was approximately $286.26 million. The shares have shown a negative half year performance of -4.44% and its price on 12/29/23 gained nearly 3.05%. Currently, there are 35.29M common shares owned by the public and among those 33.78M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for SATS have a consensus price objective of $24.50. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $12.00. The average price target is 32.37% above its recent price level and a downside to the estimated low will see the stock lose -38.08% over that period. But an upside of 55.22% will see the stock hit the forecast high price target while median target price for the stock is $24.50.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 100,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in EchoStar Corp are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 1.11 million shares of the company’s stock, all valued at over $11.59 million. Vanguard Small Cap Index Fund bought 2736.0 shares to see its total holdings expand to 0.89 million shares valued at over $9.27 million and representing 2.44% of the shares outstanding. iShares Russell 2000 ETF bought 417.0 shares to bring its total holdings to over 0.85 million shares at a value of $8.86 million. iShares Russell 2000 ETF now owns shares totaling to 2.34% of the shares outstanding.
Shares of EchoStar Corp (NASDAQ: SATS) opened at $16.00, down -$0.08 from a prior closing price of $16.08. However, the script later moved the day high at 16.96, up 3.05%. The company’s stock has a 5-day price change of 17.85% and -1.07% over the past three months. SATS shares are trading -0.66% year to date (YTD), with the 12-month market performance up to 1.41% higher. It has a 12-month low price of $9.53 and touched a high of $24.80 over the same period. SATS has an average intraday trading volume of 951.95K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 27.08%, 33.80%, and 1.49% respectively.
Institutional ownership of EchoStar Corp (NASDAQ: SATS) shares accounts for 38.64% of the company’s 35.29M shares outstanding. Mutual fund holders own 48.85%, while other institutional holders and individual stakeholders account for 6.90% and 40.89% respectively.
It has a market capitalization of $1.39B and a beta (3y monthly) value of 0.73. The stock’s trailing 12-month PE ratio is 14.86, while the earnings-per-share (ttm) stands at $1.12. The company has a PEG of 2.97 and a Quick Ratio of 5.81 with the debt-to-equity ratio at 0.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.04% over the week and 6.11% over the month.
Analysts forecast that EchoStar Corp (SATS) will achieve an EPS of $0.05 for the current quarter, -$0.08 for the next quarter and $0.08 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.59 a year ago. Earnings per share for the fiscal year are expected to decrease by -72.32%, and -66.04% over the next financial year. EPS should grow at an annualized rate of 5.00% over the next five years, compared to -12.36% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate EchoStar Corp (SATS) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SATS, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on August 07, 2023, with the firm’s price target at $28.
