When Will Dish Network Corp (NASDAQ: DISH) Be A Good Investment?

In the latest trading session, 1.76 million Dish Network Corp (NASDAQ:DISH) shares changed hands as the company’s beta touched 1.69. With the company’s most recent per share price at $3.49 changed hands at -$0.08 or -2.10% at last look, the market valuation stands at $1.87B. DISH’s current price is a discount, trading about -371.35% off its 52-week high of $16.45. The share price had its 52-week low at $3.21, which suggests the last value was 8.02% up since then. When we look at Dish Network Corp’s average trading volume, we note the 10-day average is 21.27 million shares, with the 3-month average coming to 9.70 million.

Analysts gave the Dish Network Corp (DISH) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.65. If we narrow down to specifics, the data shows that 1 out of 17 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 10 recommended DISH as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. Dish Network Corp’s EPS for the current quarter is expected to be -$0.17.

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Dish Network Corp (NASDAQ:DISH) trade information

Instantly DISH was in red as seen in intraday trades today. With action 4.95%, the performance over the past five days has been green. The drop to weekly highs of 3.63 on Friday, 11/17/23 subtracted -2.10% to the stock’s daily price. The company’s shares are showing year-to-date downside of -75.11%, with the 5-day performance at 4.95% in the green. However, in the 30-day time frame, Dish Network Corp (NASDAQ:DISH) is -29.96% down. Looking at the short shares, we see there were 56.27 million shares sold at short interest cover period of 7.8 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.69, meaning bulls need an upside of 47.83% from its recent market value. According to analyst projections, DISH’s forecast low is $1.00 with $13.00 as the target high. To hit the forecast high, the stock’s price needs a -272.49% plunge from its current level, while the stock would need to tank 71.35% for it to hit the projected low.

Dish Network Corp (DISH) estimates and forecasts

Data shows that the Dish Network Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -48.45% over the past 6 months, a -81.72% in annual growth rate that is considerably lower than the industry average of 4.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Dish Network Corp will fall -111.60%, while the growth in revenue is estimated to hit -137.10% for the next quarter. Year-over-year growth is forecast to reach -7.30% down from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $3.73 billion. 4 analysts are of the opinion that Dish Network Corp’s revenue for the quarter ending Mar 2024 will be $3.81 billion. The company’s revenue for the corresponding quarters a year ago was $4.04 billion and $3.96 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.80%. The estimates for the next quarter sales put growth at -3.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -2.27%. The 2023 estimates are for Dish Network Corp earnings to decrease by -89.93%.

DISH Dividends

Dish Network Corp is expected to release its next quarterly earnings report on November 06.

Dish Network Corp (NASDAQ:DISH)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 15.20% of Dish Network Corp shares while 84.82% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 100.02%. There are 84.82% institutions holding the Dish Network Corp stock share, with Dodge & Cox Inc the top institutional holder. As of Jun 29, 2023, the company held 13.30% of the shares, roughly 39.29 million DISH shares worth $258.92 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 11.89% or 35.11 million shares worth $231.39 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Dodge & Cox Stock Fund and iShares Core S&P Smallcap ETF. With 26.41 million shares estimated at $174.06 million under it, the former controlled 8.94% of total outstanding shares. On the other hand, iShares Core S&P Smallcap ETF held about 5.68% of the shares, roughly 16.77 million shares worth around $98.25 million.

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