Equities research analysts forecast that DISH Network Corp (NASDAQ:DISH) will report sales of $3.17 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for DISH Network’s earnings, with estimates ranging from $3.13 billion to $3.20 billion. DISH Network posted sales of $3.31 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 12th.
On average, analysts expect that DISH Network will report full year sales of $12.72 billion for the current fiscal year, with estimates ranging from $12.69 billion to $12.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.25 billion, with estimates ranging from $11.95 billion to $12.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover DISH Network.
DISH Network (NASDAQ:DISH) last announced its earnings results on Thursday, November 7th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. DISH Network had a net margin of 10.47% and a return on equity of 14.55%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year.
A number of research firms have commented on DISH. Raymond James upgraded shares of DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Monday, August 26th. ValuEngine downgraded shares of DISH Network from a “sell” rating to a “strong sell” rating in a research note on Friday. BidaskClub downgraded shares of DISH Network from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein assumed coverage on shares of DISH Network in a research note on Tuesday, October 15th. They set an “underperform” rating and a $29.00 price objective on the stock. Finally, Morgan Stanley increased their target price on shares of DISH Network from $28.88 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $33.18.
In related news, EVP Jeffrey L. Mcschooler sold 1,787 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $35.34, for a total value of $63,152.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 52.80% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in shares of DISH Network by 28.9% during the 2nd quarter. Strs Ohio now owns 27,674 shares of the company’s stock valued at $1,062,000 after purchasing an additional 6,204 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of DISH Network by 133.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,605 shares of the company’s stock worth $753,000 after buying an additional 11,200 shares during the period. Aperio Group LLC boosted its holdings in shares of DISH Network by 0.7% in the second quarter. Aperio Group LLC now owns 53,350 shares of the company’s stock worth $2,049,000 after buying an additional 389 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of DISH Network by 86.2% in the second quarter. Janus Henderson Group PLC now owns 385,046 shares of the company’s stock worth $14,790,000 after buying an additional 178,306 shares during the period. Finally, Covenant Multifamily Offices LLC acquired a new position in shares of DISH Network in the second quarter worth about $800,000. 47.29% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ DISH traded down $0.10 during trading hours on Wednesday, reaching $34.13. 1,365,481 shares of the company traded hands, compared to its average volume of 2,240,343. DISH Network has a 12 month low of $23.22 and a 12 month high of $44.65. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $16.71 billion, a PE ratio of 11.38 and a beta of 1.33. The company has a 50 day moving average of $34.76 and a two-hundred day moving average of $35.56.
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.
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