Citigroup cuts DISH Network (NASDAQ:DISH) price target to $34.00

DISH Network (NASDAQ: DISH – Get an Assessment) saw its price target lowered by Citigroup from $46.00 to $34.00 in a research note released Monday to investors, reports The Fly. Citigroup’s price target would indicate a potential upside of 63.62% from the current share price.

Several other research companies have also published reports on DISH. Pivotal Research reduced its target price on DISH Network from $50.00 to $40.00 in a Monday, May 9 research note. Truist Financial reduced its target price on DISH Network from $32.00 to $25.00 in a Wednesday, May 11 report. Credit Suisse Group upgraded DISH Network from a “neutral” rating to an “outperforming” rating and set a price target of $45.00 for the company in a Monday, May 9 report. Benchmark reduced its price target on DISH Network from $50.00 to $37.00 in a Monday, May 9 report. Finally, UBS Group upgraded DISH Network from a “neutral” rating to a “buy” rating and set a price target of $44.00 for the company in a Tuesday, March 8 report. One equity research analyst gave the stock a sell rating, seven gave the stock a hold rating, five gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, DISH Network currently has an average rating of “Hold” and a consensus price target of $38.84.

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Shares of DISH Network opened at $20.78 on Monday. The company has a market capitalization of $11.01 billion, a P/E ratio of 5.95, a P/E/G ratio of 1.36 and a beta of 1.92. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt ratio of 1.12. DISH Network has a 12 month minimum of $17.04 and a 12 month maximum of $46.31. The stock’s fifty-day moving average price is $28.88 and its 200-day moving average price is $31.23.

DISH Network (NASDAQ:DISH – Get Rating) last released its results on Friday, May 6. The company reported earnings per share (EPS) of $0.68 for the quarter, missing the consensus estimate of $0.69 per ($0.01). DISH Network had a net margin of 12.49% and a return on equity of 14.56%. The company posted revenue of $4.33 billion in the quarter, compared to $4.39 billion expected by analysts. In the same quarter last year, the company achieved EPS of $0.99. DISH Network’s revenue for the quarter decreased 3.8% year over year. Analysts expect DISH Network to post earnings per share of 2.55 for the current year.

Separately, director James Defranco bought 400,000 shares in a trade on Thursday, May 12. The shares were purchased at an average cost of $19.27 per share, for a total transaction of $7,708,000.00. Following the purchase, the director now owns 1,661,428 shares of the company, valued at approximately $32,015,717.56. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders of the company hold 53.30% of the shares of the company.

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Westpac Banking Corp increased its position in DISH Network by 2.2% during the fourth quarter. Westpac Banking Corp now owns 16,440 shares of the company worth $533,000 after buying 348 more shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in DISH Network shares 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 150,131 shares of the company valued at $4,752,000 after acquiring 376 additional shares last quarter. Dupont Capital Management Corp raised its position in DISH Network shares by 16.7% in the first quarter. Dupont Capital Management Corp now owns 2,849 shares of the company valued at $90,000 after acquiring 408 additional shares last quarter. Brown Advisory Inc. increased its position in DISH Network shares by 4.3% in the first quarter. Brown Advisory Inc. now owns 11,529 shares of the company valued at $373,000 after acquiring 475 additional shares in the last quarter. Finally, Achmea Investment Management BV increased its position in DISH Network shares by 1.8% in the third quarter. Achmea Investment Management BV now owns 31,722 shares of the company valued at $1,379,000 after acquiring an additional 547 shares last quarter. Institutional investors hold 46.90% of the company’s shares.

About DISH Network (Get an assessment)

DISH Network Corporation, together with its subsidiaries, provides pay television 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 on national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latin and international.

Further reading

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Analyst Recommendations for DISH Network (NASDAQ: DISH)

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