DISH Network (NASDAQ:DISH) Hits New 12-Month Low on Analyst Downgrade

Posted by on Apr 13th, 2023

DISH Network Co. (NASDAQ:DISH – Get Rating)’s stock price hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $14.00 to $10.00. The company traded as low as $8.29 and last traded at $8.30, with a volume of 2984962 shares traded. The stock had previously closed at $8.92.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley dropped their target price on DISH Network from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, January 23rd. Raymond James decreased their price target on DISH Network from $28.00 to $27.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 24th. Bank of America cut DISH Network from a “buy” rating to an “underperform” rating and decreased their price target for the company from $30.00 to $10.00 in a research report on Tuesday, February 28th. JPMorgan Chase & Co. decreased their price target on DISH Network from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, February 27th. Finally, UBS Group cut DISH Network from a “buy” rating to a “neutral” rating and decreased their price target for the company from $27.00 to $10.00 in a research report on Monday, March 27th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.33.

Insider Activity

In other news, Director James Defranco acquired 1,450,000 shares of DISH Network stock in a transaction dated Thursday, March 2nd. The shares were purchased at an average cost of $10.84 per share, for a total transaction of $15,718,000.00. Following the transaction, the director now owns 3,567,658 shares of the company’s stock, valued at $38,673,412.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have purchased 2,100,000 shares of company stock worth $22,877,000. 55.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DISH Network

Institutional investors and hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can purchased a new position in shares of DISH Network in the third quarter worth about $3,901,000. Treasurer of the State of North Carolina grew its position in DISH Network by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 107,375 shares of the company’s stock worth $1,485,000 after acquiring an additional 1,390 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in DISH Network by 12.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,416 shares of the company’s stock worth $387,000 after acquiring an additional 3,005 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in DISH Network by 5.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 293,767 shares of the company’s stock worth $4,063,000 after acquiring an additional 15,493 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in DISH Network during the 3rd quarter worth approximately $37,000. Institutional investors own 96.51% of the company’s stock.

DISH Network Trading Down 9.4 %

The firm has a 50-day moving average of $11.19 and a 200-day moving average of $13.46. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market capitalization of $4.29 billion, a P/E ratio of 2.23 and a beta of 1.80.

DISH Network (NASDAQ:DISH – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $0.47 by $1.00. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DISH Network had a net margin of 13.81% and a return on equity of 13.66%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 EPS. On average, equities research analysts anticipate that DISH Network Co. will post 1.3 EPS for the current fiscal year.

DISH Network Company Profile

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DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through the Pay-TV and Wireless segments. The Pay-TV segment operates under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles William Ergen, Cantey M.

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