DISH Network Corporation (DISH) Downgraded to Sell at BidaskClub

BidaskClub cut shares of DISH Network Corporation (NASDAQ:DISH) from a hold rating to a sell rating in a research report released on Monday, July 31st.

DISH has been the topic of a number of other research reports. UBS AG reiterated a neutral rating and issued a $68.00 price objective (up previously from $63.00) on shares of DISH Network Corporation in a report on Tuesday, May 2nd. Barclays PLC upgraded DISH Network Corporation from an equal weight rating to an overweight rating and raised their price target for the stock from $62.00 to $74.00 in a research note on Thursday, April 27th. Macquarie reiterated a hold rating and issued a $65.00 target price on shares of DISH Network Corporation in a research note on Monday, May 1st. Wells Fargo & Company reiterated an outperform rating on shares of DISH Network Corporation in a research note on Wednesday, June 28th. Finally, Hilliard Lyons downgraded DISH Network Corporation from a buy rating to a neutral rating in a research note on Monday, May 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. DISH Network Corporation has a consensus rating of Hold and a consensus price target of $70.31.

DISH Network Corporation (DISH) traded up 0.40% during trading on Monday, hitting $57.17. 1,249,687 shares of the stock traded hands. The firm has a 50-day moving average price of $62.69 and a 200 day moving average price of $62.67. The company has a market cap of $26.65 billion, a P/E ratio of 26.59 and a beta of 0.96. DISH Network Corporation has a 52-week low of $48.51 and a 52-week high of $66.50.

DISH Network Corporation (NASDAQ:DISH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by $0.67. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts expect that DISH Network Corporation will post $2.37 EPS for the current year.

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In related news, EVP R Stanton Dodge sold 1,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $66.20, for a total value of $66,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $59.73, for a total value of $1,493,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,100 shares of company stock worth $1,565,779. Insiders own 49.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank boosted its stake in shares of DISH Network Corporation by 0.8% in the first quarter. Huntington National Bank now owns 2,319 shares of the company’s stock valued at $147,000 after buying an additional 19 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of DISH Network Corporation by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 12,835 shares of the company’s stock valued at $806,000 after buying an additional 48 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of DISH Network Corporation by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,900 shares of the company’s stock valued at $1,061,000 after buying an additional 68 shares during the last quarter. Private Capital Advisors Inc. boosted its stake in shares of DISH Network Corporation by 0.7% in the second quarter. Private Capital Advisors Inc. now owns 10,772 shares of the company’s stock valued at $676,000 after buying an additional 72 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its position in DISH Network Corporation by 0.9% in the second quarter. TRUE Private Wealth Advisors now owns 7,899 shares of the company’s stock valued at $495,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 49.76% of the company’s stock.

DISH Network Corporation 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.