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Why EchoStar (SATS) Could Be Positioned for a Surge

Zacks

EchoStar Corporation SATS is a set-top box and satellite service provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SATS’ earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that EchoStar could be a solid choice for investors.

Current Quarter Estimates for SATS

In the past 30 days, one estimate has gone higher for EchoStar while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from nine cents a share 30 days ago, to 12 cents today, a move of 33.3%.


Current Year Estimates for SATS

Meanwhile, EchoStar’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 73 cents per share 30 days ago to 88 cents per share today, an increase of 20.5%.

Bottom Line

The stock has also started to move higher lately, adding 6.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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Zacks Investment Research
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