S&P Equity Research Maintains 'Strong Sell' Rating on DISH Network (DISH)
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S&P Equity Research maintains a 'Strong Sell' rating on DISH Network (Nasdaq: DISH).
S&P analyst, T. Amobi, says, "Q1 EPS of $0.57 vs. $0.35 exceeds S&P and Street estimates by $0.03 and $0.05. We note disappointing Q1 net 35,000 subscriber adds on high 1.68% monthly churn, which DISH attributes to greater competition and slowing economy. We infer Q1 EPS upside is mostly on recent separation of Echostar (Nasdaq: SATS), producing notably lower-than-projected interest expense, G&A and D&A expenses, against higher subscriber acquisition costs per gross add. We expect p.m. update on impact of AT&T (NYSE: T) video transition in former BellSouth markets from DirecTV (NYSE: DTV) to DISH."
DISH Network Corporation is a provider of satellite delivered digital television to customers across the United States. [SM]
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