Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating on Dish Network (NASDAQ: DISH) today and set a price target of $38. The company’s shares opened today at $33.60, close to its 52-week low of $31.15.
Wlodarczak said:
“We remind investors that DISH’s core DBS business is in effect a declining annuity stream that in 1Q declined at a faster than expected pace, with an increasingly difficult outlook. While 1Q subscriber losses were better than expected (-94K (w/Sling) vs. our -163K and -106K consensus) this was driven by historically low subscriber churn, DISH spent more than expected to drive these results highlighted by $707 DISH TV SAC vs. our $688 expectation driving $722M (-11%) EBITDA growth vs. our $750M forecasts and $694 consensus (recall there was an accounting change boost to EBITDA from capitalization of certain marketing expenses). Free cash flow declined a worse than expected (-24%) y/y although much of this was related to working capital timing.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 7.5% and a 57.4% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Charter Communications, and Liberty LiLAC Group.
Dish Network has an analyst consensus of Moderate Buy, with a price target consensus of $56.40.
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Based on Dish Network’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.39 billion. In comparison, last year the company had a net profit of $376 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is neutral on the stock. Most recently, in February 2018, Tom Ortolf, a Director at DISH sold 5,000 shares for a total of $222,550.
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DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through Pay-TV and Broadband, and Wireless segments. The Pay-TV and Broadband segment is offered under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles W.
