DISH Network (DISH) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of DISH Network (NASDAQ:DISH) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $32.00 price target on the stock.

According to Zacks, “DISH’s efforts to diversify its business from being a pure-play satellite-TV operator to an Internet TV operator is expected to help it counter competitive threats from low-cost video streaming operators. Sling TV subscriber base is increasing, which is a positive for the company’s top-line growth. Moreover, DISH’s focus on acquiring and retaining subscribers that are profitable over the long term, is paying off. The company’s excellent customer service is improving retention. Further, DISH has ample wireless opportunities with its extensive portfolio of wireless spectrum, valued at around $40 billion. However, escalating programming and content expenses, retransmission fees and failure to strike any deal with wireless operators are major concerns. Shares have underperformed the industry in the past year.”

Several other analysts have also issued reports on the stock. Pivotal Research decreased their price target on shares of DISH Network from $40.00 to $37.00 and set a buy rating on the stock in a research report on Friday, November 2nd. Guggenheim upgraded shares of DISH Network from a neutral rating to a buy rating and lifted their target price for the company from $32.00 to $50.00 in a research report on Wednesday, October 24th. Morgan Stanley decreased their target price on shares of DISH Network from $39.00 to $37.00 and set an equal weight rating on the stock in a research report on Thursday, December 6th. Macquarie reiterated a sell rating and set a $30.00 target price on shares of DISH Network in a research report on Sunday, November 11th. Finally, Wolfe Research assumed coverage on shares of DISH Network in a research report on Friday, December 7th. They set a market perform rating on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $39.07.

NASDAQ DISH opened at $28.15 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 11.08 and a beta of 1.39. DISH Network has a 52-week low of $23.22 and a 52-week high of $49.78.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.15. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.40 billion. DISH Network had a net margin of 19.01% and a return on equity of 20.26%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. Research analysts forecast that DISH Network will post 2.92 EPS for the current fiscal year.

In other DISH Network news, insider James Defranco bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $32.98 per share, for a total transaction of $494,700.00. Following the transaction, the insider now owns 1,233,529 shares in the company, valued at $40,681,786.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 205,000 shares of company stock worth $6,013,100. 49.20% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of DISH. Dimensional Fund Advisors LP increased its holdings in shares of DISH Network by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 619,596 shares of the company’s stock valued at $20,826,000 after purchasing an additional 29,668 shares during the period. Commonwealth Bank of Australia increased its holdings in shares of DISH Network by 7,273.2% in the second quarter. Commonwealth Bank of Australia now owns 21,456 shares of the company’s stock valued at $715,000 after purchasing an additional 21,165 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of DISH Network by 1.3% in the second quarter. OppenheimerFunds Inc. now owns 517,875 shares of the company’s stock valued at $17,406,000 after purchasing an additional 6,880 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of DISH Network by 32.1% in the second quarter. Glen Harbor Capital Management LLC now owns 26,146 shares of the company’s stock valued at $879,000 after purchasing an additional 6,358 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of DISH Network by 30.1% in the second quarter. Raymond James & Associates now owns 58,876 shares of the company’s stock valued at $1,979,000 after purchasing an additional 13,619 shares during the period. Institutional investors and hedge funds own 48.61% 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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