It’s been a pretty lousy year on Wall Street for DISH Network. On January 8, a $49.48 finish was seen for the company’s shares.
Then, a slide began, bringing DISH as low as $29.08 on May 28 and, after a brief rally, back down to $30.15 on July 23.
It looks like DISH is poised to match or dip below that mid-summer slide.
On volume of 5.38 million shares, DISH was off 8.34% to $31.77 on Tuesday (10/23). Average volume is just under 3 million shares. In immediate after-hours trading, DISH was up to $32.11.
With a 1-year target price of $51.45, DISH executives have a tough road ahead to bring DISH shares anywhere close of that expectation over the next nine weeks.
Does this mean DISH is a good “value stock” right now?
Zacks Equity Research asked this question, and says yes.
“One stock to keep an eye on is Dish Network,” it says. “DISH is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 14.13. This compares to its industry’s average Forward P/E of 17.88. Over the past 52 weeks, DISH’s Forward P/E has been as high as 25.34 and as low as 12.39, with a median of 15.70.”
Further, DISH’s current P/B “looks solid” when compared to its industry’s average P/B of 2.87. Over the past year, DISH’s P/B has been as high as 4.37 and as low as 1.78, with a median of 2.45.
Then there is DISH’s current P/CF of 5.56, which Zacks says “looks attractive” when compared to its industry’s average P/CF of 6.19.
“DISH sticks out at as one of the market’s strongest value stocks,” it concludes.