Shares of broadcast satellite television provider, DISH Network Corp. (NASDAQ:DISH) fell in pre-market trading after the company reported earnings for its third quarter. The company swung to a loss in the third quarter to $0.26 per share as compared to earnings of $0.65 per share in the same period last year.
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The company’s revenues declined by 9.7% year-over-year to $3.7 billion in Q3, missing analysts’ expectations of $3.82 billion. Dish’s net pay-TV subscribers fell by around 64,000 in the third quarter, compared to a net increase of around 30,000 in the same period a year back. At the end of Q3, DISH had 8.84 million pay-TV subscribers.
Is DISH Network a Good Stock to Buy?
Analysts are cautiously optimistic about DISH stock with a Moderate Buy consensus rating based on four Buys, six Holds and one Sell. The average DISH price target of $11.91 implies an upside potential of 116.9% at current levels. DISH stock is down more than 60% year-to-date.
