EchoStar Corp (NASDAQ: SATS)’s Stock Performance and Outlook

In the last trading session, 1.38 million EchoStar Corp (NASDAQ:SATS) shares changed hands as the company’s beta touched 0.70. With the company’s per share price at $13.00 changed hands at -$0.52 or -3.85% during last session, the market valuation stood at $3.53B. SATS’s last price was a discount, traded about -90.77% off its 52-week high of $24.80. The share price had its 52-week low at $9.53, which suggests the last value was 26.69% up since then. When we look at EchoStar Corp’s average trading volume, we note the 10-day average is 1.15 million shares, with the 3-month average coming to 0.55.

EchoStar Corp (NASDAQ:SATS) trade information

Instantly SATS was in red as seen at the end of in last trading. With action -0.84%, the performance over the past five days has been red. The drop to weekly highs of 14.21 subtracted -3.85% to the stock’s daily price. The company’s shares are showing year-to-date downside of -21.54%, with the 5-day performance at -0.84% in the red. However, in the 30-day time frame, EchoStar Corp (NASDAQ:SATS) is -19.15% down. Looking at the short shares, we see there were 15.62 million shares sold at short interest cover period of 3.47 days.

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EchoStar Corp (SATS) estimates and forecasts

Data shows that the EchoStar 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 -43.50% over the past 6 months, a -54.76% in annual growth rate that is considerably lower than the industry average of -35.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for EchoStar Corp will fall -116.90%, while the growth in revenue is estimated to hit -100.00% for the next quarter. Year-over-year growth is forecast to reach 689.80% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $3.75 billion. 1 analysts are of the opinion that EchoStar Corp’s revenue for the quarter ending Mar 2024 will be $4.07 billion. The company’s revenue for the corresponding quarters a year ago was $499.86 million and $448 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 650.90%. The estimates for the next quarter sales put growth at 808.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -12.36%. The 2024 estimates are for EchoStar Corp earnings to decrease by -74.94%, but the outlook for the next 5-year period is at 5.00% per year.

SATS Dividends

EchoStar Corp is expected to release its next quarterly earnings report between February 20 and February 26.

EchoStar Corp (NASDAQ:SATS)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 10.63% of EchoStar Corp shares while 22.28% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.93%. There are 22.28% institutions holding the EchoStar Corp stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.29% of the shares, roughly 4.44 million SATS shares worth $77.06 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.49% or 3.43 million shares worth $59.51 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 1.11 million shares estimated at $19.19 million under it, the former controlled 3.06% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.45% of the shares, roughly 0.89 million shares worth around $15.35 million.

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