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DISH Network Corporation (NASDAQ: DISH) Drops -32.12% YTD: What’s Next?

DISH Network Corporation (NASDAQ:DISH)’s traded shares stood at 9.16 million during the last session, with the company’s beta value hitting 1.83. At the close of trading, the stock’s price was $9.53, to imply a decrease of -3.54% or -$0.35 in intraday trading. The DISH share’s 52-week high remains $33.74, putting it -254.04% down since that peak but still an impressive 1.47% since price per share fell to its 52-week low of $9.39. The company has a valuation of $5.43B, with an average of 8.82 million shares in intraday trading volume over the past 10 days and average of 5.75 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for DISH Network Corporation (DISH), translating to a mean rating of 2.40. Of 17 analyst(s) looking at the stock, 1 analyst(s) give DISH a Sell rating. 0 of those analysts rate the stock as Overweight while 7 advise Hold as 7 recommend it as a Buy. 2 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.47.

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DISH Network Corporation (NASDAQ:DISH) trade information

After registering a -3.54% downside in the last session, DISH Network Corporation (DISH) has traded red over the past five days. The stock hit a weekly high of 11.18 this Thursday, 03/16/23, dropping -3.54% in its intraday price action. The 5-day price performance for the stock is -15.59%, and -32.03% over 30 days. With these gigs, the year-to-date price performance is -32.12%. Short interest in DISH Network Corporation (NASDAQ:DISH) saw shorts transact 30.84 million shares and set a 5.73 days time to cover.

Analysts on Wall Street suggest a consensus price target of $23.33, implying an increase of 59.15% to the stock’s current value. The extremes give us $10.00 and $55.00 for target low and target high price respectively. As such, DISH has been trading -477.12% off suggested target high and -4.93% from its likely low.

DISH Network Corporation (DISH) estimates and forecasts

Looking at statistics comparing DISH Network Corporation share performance against respective industry, we note that the company has underperformed competitors. DISH Network Corporation (DISH) shares are -44.53% down over the last 6 months, with its year-to-date growth rate lower than industry average at -63.99% against 0.70%. Revenue is forecast to shrink -45.30% this quarter before falling -33.80% for the next one. The rating firms project that company’s revenue will shrink -6.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 11 analysts is $4.15 billion. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $4.09 billion.Earnings reports from the last fiscal year show that sales brought in $4.45 billion and $4.33 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -6.70% before dropping -5.50% in the following quarter.

DISH Dividends

DISH Network Corporation has its next earnings report out between May 04 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. DISH Network Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

DISH Network Corporation (NASDAQ:DISH)’s Major holders

DISH Network Corporation insiders hold 14.09% of total outstanding shares, with institutional holders owning 82.85% of the shares at 96.45% float percentage. In total, 82.85% institutions holds shares in the company, led by Dodge & Cox Inc. As of Sep 29, 2022, the company held over 39.36 million shares (or 13.47% of shares), all amounting to roughly $544.41 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 27.72 million shares, or about 9.48% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $383.31 million.

We also have Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the DISH Network Corporation (DISH) shares. Going by data provided on Dec 30, 2022, Dodge & Cox Stock Fund holds roughly 26.33 million shares. This is just over 9.01% of the total shares, with a market valuation of $369.61 million. Data from the same date shows that the other fund manager holds a little less at 7.36 million, or 2.52% of the shares, all valued at about 101.8 million.

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