DISH Network (NASDAQ:DISH – Get Free Report) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $10.00 price objective on the stock, up from their previous price objective of $5.00. Barclays‘s price target would indicate a potential upside of 20.92% from the stock’s previous close.
A number of other research firms also recently weighed in on DISH. Citigroup downgraded DISH Network from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $8.00 in a research report on Wednesday, May 24th. Bank of America cut their target price on DISH Network from $10.00 to $6.00 in a research report on Thursday, July 13th. StockNews.com initiated coverage on DISH Network in a research report on Thursday, May 18th. They set a “sell” rating for the company. Pivotal Research upped their target price on DISH Network from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Benchmark cut DISH Network from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.64.
Check Out Our Latest Report on DISH Network
DISH Network Stock Performance
DISH Network (NASDAQ:DISH – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.91 billion. DISH Network had a return on equity of 12.02% and a net margin of 12.84%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. Research analysts expect that DISH Network will post 1.22 EPS for the current year.
Insiders Place Their Bets
In other news, Director James Defranco bought 300,000 shares of the stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $6.00 per share, with a total value of $1,800,000.00. Following the acquisition, the director now directly owns 304,642 shares in the company, valued at $1,827,852. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director James Defranco bought 300,000 shares of the stock in a transaction on Thursday, June 1st. The stock was acquired at an average price of $6.00 per share, with a total value of $1,800,000.00. Following the acquisition, the director now directly owns 304,642 shares in the company, valued at $1,827,852. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas A. Cullen sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $6.36, for a total value of $159,000.00. Following the completion of the transaction, the executive vice president now directly owns 226,050 shares of the company’s stock, valued at approximately $1,437,678. The disclosure for this sale can be found here. Insiders own 55.50% of the company’s stock.
Institutional Investors Weigh In On DISH Network
Several institutional investors and hedge funds have recently made changes to their positions in DISH. American Century Companies Inc. increased its stake in shares of DISH Network by 94.5% in the first quarter. American Century Companies Inc. now owns 53,837 shares of the company’s stock valued at $1,704,000 after buying an additional 26,151 shares during the period. US Bancorp DE increased its stake in shares of DISH Network by 22.6% in the first quarter. US Bancorp DE now owns 3,166 shares of the company’s stock valued at $100,000 after buying an additional 584 shares during the period. MetLife Investment Management LLC increased its stake in shares of DISH Network by 23.1% in the first quarter. MetLife Investment Management LLC now owns 67,914 shares of the company’s stock valued at $2,149,000 after buying an additional 12,745 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of DISH Network by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 235,484 shares of the company’s stock valued at $7,859,000 after buying an additional 3,245 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of DISH Network by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,850,034 shares of the company’s stock valued at $90,210,000 after buying an additional 53,552 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.
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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