DISH Network Corporation (NASDAQ: DISH) stock fell -5.61% on Wednesday to $6.23 against a previous-day closing price of $6.60. With 10.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 9.4 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $6.58 whereas the lowest price it dropped to was $6.12. The 52-week range on DISH shows that it touched its highest point at $23.49 and its lowest point at $5.94 during that stretch. It currently has a 1-year price target of $17.57. Beta for the stock currently stands at 1.80.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DISH was down-trending over the past week, with a drop of -9.18%, but this was down by -10.74% over a month. Three-month performance dropped to -54.72% while six-month performance fell -58.05%. The stock lost -69.85% in the past year, while it has lost -55.63% so far this year. A look at the trailing 12-month EPS for DISH yields 3.28 with Next year EPS estimates of -0.10. For the next quarter, that number is 0.31. This implies an EPS growth rate of -4.60% for this year and -112.80% for next year.
Float and Shares Shorts:
At present, 531.29 million DISH shares are outstanding with a float of 251.08 million shares on hand for trading. On Apr 27, 2023, short shares totaled 50.07 million, which was 9.43% higher than short shares on Mar 30, 2023. In addition to Mr. Charles William Ergen as the firm’s Co-Founder & Exec. Chairman, Mr. W. Erik Carlson serves as its Pres, CEO & Director.
Through their ownership of 82.53% of DISH’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.84% of DISH, in contrast to 37.57% held by mutual funds. Shares owned by individuals account for 16.65%. As the largest shareholder in DISH with 13.44% of the stake, Dodge & Cox holds 39,326,466 shares worth 39,326,466. A second-largest stockholder of DISH, The Vanguard Group, Inc., holds 27,681,800 shares, controlling over 9.46% of the firm’s shares. Eagle Capital Management LLC is the third largest shareholder in DISH, holding 14,965,603 shares or 5.11% stake. With a 8.99% stake in DISH, the Dodge & Cox Stock Fund is the largest stakeholder. A total of 26,325,837 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.67% of DISH stock, is the second-largest Mutual Fund holder. It holds 7,827,305 shares valued at 58.78 million. Invesco S&P 500 Equal Weight ETF holds 2.11% of the stake in DISH, owning 6,162,129 shares worth 46.28 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, DISH reported revenue of $4.21B and operating income of $692.93M. The EBITDA in the recently reported quarter was $870.41M and diluted EPS was $0.82.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DISH since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DISH analysts setting a high price target of $32.00 and a low target of $5.00, the average target price over the next 12 months is $14.79. Based on these targets, DISH could surge 413.64% to reach the target high and fall by -19.74% to reach the target low. Reaching the average price target will result in a growth of 137.4% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded DISH stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 2,850,000 shares were bought while 600,000 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 5,412,770 while 2,322,386 shares were sold.