DISH Network Corporation (NASDAQ: DISH) Disappoints Wall Street With -2.74% Stock Price Drop

In the last trading session, 17.89 million DISH Network Corporation (NASDAQ:DISH) shares changed hands as the company’s beta touched 1.81. With the company’s per share price at $7.10 changed hands at -$0.2 or -2.74% during last session, the market valuation stood at $3.25B. DISH’s last price was a discount, traded about -212.96% off its 52-week high of $22.22. The share price had its 52-week low at $5.91, which suggests the last value was 16.76% up since then. When we look at DISH Network Corporation’s average trading volume, we note the 10-day average is 16.71 million shares, with the 3-month average coming to 10.60 million.

Analysts gave the DISH Network Corporation (DISH) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.80. If we narrow down to specifics, the data shows that 2 out of 18 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 10 recommended DISH as a Hold, 5 felt it is a Buy and 1 rated the stock as Underweight. DISH Network Corporation’s EPS for the current quarter is expected to be $0.3.

Instantly DISH was in red as seen at the end of in last trading. With action 6.61%, the performance over the past five days has been green. The drop to weekly highs of 7.86 on Monday, 06/05/23 subtracted -2.74% to the stock’s daily price. The company’s shares are showing year-to-date downside of -49.43%, with the 5-day performance at 6.61% in the green. However, in the 30-day time frame, DISH Network Corporation (NASDAQ:DISH) is 6.77% up. Looking at the short shares, we see there were 55.41 million shares sold at short interest cover period of 5.28 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.07, meaning bulls need an upside of 49.54% from its current market value. According to analyst projections, DISH’s forecast low is $5.00 with $32.00 as the target high. To hit the forecast high, the stock’s price needs a -350.7% plunge from its current level, while the stock would need to tank 29.58% for it to hit the projected low.

DISH Network Corporation (DISH) estimates and forecasts

Data shows that the DISH Network Corporation 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 -54.46% over the past 6 months, a -61.77% in annual growth rate that is considerably lower than the industry average of 1.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for DISH Network Corporation will fall -63.40%, while the growth in revenue is estimated to hit -80.00% for the next quarter. Year-over-year growth is forecast to reach -6.00% down from the last financial year.

Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $3.93 billion. 10 analysts are of the opinion that DISH Network Corporation’s revenue for the quarter ending Sep 2023 will be $3.88 billion. The company’s revenue for the corresponding quarters a year ago was $4.21 billion and $4.15 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.70%. The estimates for the next quarter sales put growth at -6.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.30%. The 2023 estimates are for DISH Network Corporation earnings to decrease by -4.60%.

DISH Dividends

DISH Network Corporation is expected to release its next quarterly earnings report in July.

DISH Network Corporation (NASDAQ:DISH)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 15.40% of DISH Network Corporation shares while 82.53% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 97.55%. There are 82.53% institutions holding the DISH Network Corporation stock share, with Dodge & Cox Inc the top institutional holder. As of Mar 30, 2023, the company held 13.37% of the shares, roughly 39.33 million DISH shares worth $366.92 million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 9.69% or 28.52 million shares worth $266.08 million as of Mar 30, 2023.

Among Mutual Funds, the top two as of Dec 30, 2022 were Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. With 26.33 million shares estimated at $369.61 million under it, the former controlled 8.99% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.57% of the shares, roughly 7.53 million shares worth around $105.68 million.