The stock of DISH Network Corp (DISH) formed an up wedge with $64.73 target or 4.00% above today’s $62.24 share price. The 8 months wedge indicates low risk for the $28.99 billion company. If the $64.73 price target is reached, the company will be worth $1.16 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%. About 333,973 shares traded hands. DISH Network Corp (NASDAQ:DISH) has risen 10.13% since June 7, 2016 and is uptrending. It has outperformed by 2.71% the S&P500.
Analysts await DISH Network Corp (NASDAQ:DISH) to report earnings on February, 16. They expect $0.67 earnings per share, up 8.06% or $0.05 from last year’s $0.62 per share. DISH’s profit will be $312.07M for 23.22 P/E if the $0.67 EPS becomes a reality. After $0.64 actual earnings per share reported by DISH Network Corp for the previous quarter, Wall Street now forecasts 4.69% EPS growth.
DISH Network Corp (NASDAQ:DISH) Ratings Coverage
Out of 16 analysts covering Dish Network Corp. (NASDAQ:DISH), 8 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 50% are positive. Dish Network Corp. has been the topic of 27 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Friday, February 26, the company rating was upgraded by HSBC. Wunderlich downgraded DISH Network Corp (NASDAQ:DISH) on Friday, July 22 to “Sell” rating. The firm earned “Buy” rating on Thursday, October 8 by Deutsche Bank. The stock has “Sell” rating given by Wunderlich on Monday, September 21. Vetr downgraded the shares of DISH in a report on Tuesday, September 8 to “Buy” rating. JP Morgan maintained DISH Network Corp (NASDAQ:DISH) rating on Monday, October 5. JP Morgan has “Overweight” rating and $85 price target. The company was maintained on Monday, February 22 by Macquarie Research. The stock has “Underperform” rating given by FBR Capital on Friday, February 19. The rating was maintained by Pivotal Research with “Buy” on Thursday, November 10. The firm earned “Underweight” rating on Friday, August 14 by Barclays Capital.
According to Zacks Investment Research, “DISH NETWORK CP offers satellite television products and services. The company operates three business units: The DISH Network – the direct broadcast satellite, subscription television service in the United States. EchoStar Technologies Corporation division, which is principally responsible for the design of digital set-top boxes, or satellite receivers, and the sale of set-top boxes to international operators. Satellite Services division provides video, audio and data services to business television customers and other satellite users.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q3. Its down 0.40, from 1.35 in 2016Q2. The ratio worsened, as 29 funds sold all DISH Network Corp shares owned while 138 reduced positions. 39 funds bought stakes while 120 increased positions. They now own 220.96 million shares or 6.17% more from 208.11 million shares in 2016Q2.
Point72 Asset Management Limited Partnership has 410,903 shares for 0.16% of their US portfolio. Tourbillon Capital Partners Ltd Partnership accumulated 4.59% or 4.11 million shares. Morgan Stanley, a New York-based fund reported 466,794 shares. New Jersey Better Educational Savings has 11,000 shares for 0.39% of their US portfolio. Jane Street Group Inc Ltd Liability Corporation last reported 0% of its portfolio in the stock. Yhb Invest Advsr last reported 40,775 shares in the company. Sei Investments has 125,324 shares for 0.03% of their US portfolio. Panagora Asset Mgmt Inc last reported 0% of its portfolio in the stock. Jpmorgan Chase And Communication reported 24.44M shares or 0.33% of all its holdings. Moreover, Nationwide Fund has 0.06% invested in DISH Network Corp (NASDAQ:DISH) for 279,800 shares. Geode Mgmt Limited Co accumulated 0.04% or 1.43M shares. First Quadrant L P Ca accumulated 17,100 shares or 0.02% of the stock. Krasney Fincl Lc holds 3,760 shares or 0.05% of its portfolio. Paloma Ptnrs Mngmt Com reported 25,000 shares or 0.02% of all its holdings. Ascend Capital Lc has 2.44% invested in the company for 727,538 shares.
Insider Transactions: Since August 12, 2016, the stock had 0 insider buys, and 7 selling transactions for $9.37 million net activity. Swieringa John had sold 3,000 shares worth $153,030 on Friday, August 12. Khemka Vivek sold $420,000 worth of DISH Network Corp (NASDAQ:DISH) on Thursday, December 8. The insider ORBAN PAUL W sold 92 shares worth $5,382. CULLEN THOMAS A had sold 120,000 shares worth $7.06 million on Thursday, December 15. On Thursday, December 8 Swain Steven E sold $120,000 worth of the stock or 2,000 shares. VOGEL CARL E sold $1.61 million worth of stock.
DISH Company Profile
DISH Network Corporation, incorporated on April 26, 1995, is a holding company. The Firm operates through two divisions: DISH and Wireless. The Firm offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded Pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite (DBS) and Fixed Satellite Service (FSS) spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations. The Sling branded Pay-TV services consist of live, linear streaming over-the-top (OTT) Internet domestic, international and Latino video programming services (Sling TV). The Firm offers receiver systems and programming through direct sales channels and through independent third parties, such as small satellite retailers, direct marketing groups, local and regional consumer electronics stores, retailers and telecommunications companies.
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