JPMorgan Chase & Co. Reaffirms Overweight Rating for DISH Network (NASDAQ:DISH)

DISH Network (NASDAQ:DISH)‘s stock had its “overweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued on Monday, August 6th, The Fly reports. They presently have a $50.00 price target on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 41.44% from the stock’s previous close.

A number of other research firms have also commented on DISH. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, July 10th. Barclays set a $38.00 price objective on DISH Network and gave the stock a “buy” rating in a research note on Wednesday, May 9th. Pivotal Research dropped their price objective on DISH Network from $65.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, May 8th. Cowen reiterated a “buy” rating and issued a $60.00 price objective on shares of DISH Network in a research note on Monday, August 6th. Finally, Morgan Stanley dropped their price objective on DISH Network from $45.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 29th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.81.

NASDAQ DISH traded down $0.10 during trading on Monday, hitting $35.35. 2,267,900 shares of the company traded hands, compared to its average volume of 2,878,588. DISH Network has a 12 month low of $28.80 and a 12 month high of $59.90. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.76 and a quick ratio of 0.66. The firm has a market cap of $16.98 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of -6.56 and a beta of 1.10.

DISH Network (NASDAQ:DISH) last posted its earnings results on Friday, August 3rd. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. equities analysts expect that DISH Network will post 2.77 EPS for the current year.

In related news, insider James Defranco acquired 15,000 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were bought at an average cost of $30.99 per share, with a total value of $464,850.00. Following the completion of the acquisition, the insider now owns 1,173,529 shares of the company’s stock, valued at $36,367,663.71. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 65,000 shares of company stock worth $2,035,550 over the last ninety days. Company insiders own 49.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in DISH. Key Square Capital Management LLC acquired a new position in shares of DISH Network in the 2nd quarter worth approximately $71,822,000. Thompson Siegel & Walmsley LLC boosted its holdings in shares of DISH Network by 95.2% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,295,381 shares of the company’s stock worth $124,862,000 after acquiring an additional 1,606,947 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in shares of DISH Network in the 2nd quarter worth approximately $32,423,000. First Trust Advisors LP lifted its holdings in DISH Network by 286.6% during the 2nd quarter. First Trust Advisors LP now owns 803,108 shares of the company’s stock worth $26,992,000 after buying an additional 595,347 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in DISH Network by 17.6% during the 1st quarter. Millennium Management LLC now owns 2,599,299 shares of the company’s stock worth $98,487,000 after buying an additional 389,930 shares in the last quarter. 48.27% of the stock is currently owned by institutional investors and hedge funds.

DISH Network Company Profile

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.

Read More: Return on Investment (ROI)

The Fly

Analyst Recommendations for DISH Network (NASDAQ:DISH)

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