Echostar Corporation (SATS) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.60 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.43. The company posted revenue of $757.63 million in the period, compared to analysts expectations of $766.99 million. The company’s revenue was down -4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.
Echostar Corporation opened for trading at $38.14 and hit $39.19 on the upside on Monday, eventually ending the session at $38.63, with a gain of 1.10% or 0.42 points. The heightened volatility saw the trading volume jump to 1,86,093 shares. Company has a market cap of $3,622 M.
In a different news, on May 26, 2016, Kenneth G Carroll (EVP of Corp & Bus Development) sold 6,279 shares at $40.39 per share price. According to the SEC, on Mar 28, 2016, Kranti Kilaru (EVP, Bus Systems, IT & Ops) sold 800 shares at $42.96 per share price. On Mar 14, 2016, Anthony M Federico (director) sold 2,000 shares at $45.47 per share price, according to the Form-4 filing with the securities and exchange commission.
EchoStar Corporation is a holding company. Through its subsidiaries the Company provides satellite operations video delivery solutions digital set-top boxes and broadband satellite technologies and services delivering network technologies managed services and solutions for enterprises and Governments. It operates in three business segments: EchoStar Technologies Hughes and EchoStar Satellite Services. Its satellite fleet consists of both owned and leased satellites which include SPACEWAY 3(1) QuetzSat-1(2) EchoStar XVII and AMC-15 among others. The EchoStar Technologies segment designs develops and distributes digital set-top boxes and related products and technology. The Hughes segment provides satellite broadband Internet access and broadband network services and equipment to enterprise markets. The EchoStar Satellite Services segment uses certain of its owned and leased in-orbit satellites and related licenses to provide satellite services.