Barclays Maintains an 'Equalweight' on Hughes Communications (HUGH); 1Q11: Gross Adds Accelerate
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Price: $60.67 --0%
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
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Barclays maintains an 'Equalweight' on Hughes Communications (NASDAQ: HUGH), PT $61.
Barclays analyst says, "HUGH reported strong subscriber adds in 1Q11, driven by improved marketing focus and government subsidies. Revenue was below
forecast, primarily due to timing issues related to telecom systems contracts and lower hardware sales in North America (as customers continued to prefer equipment leasing (which generates lower upfront hardware revenues) over outright purchases. Lower EBITDA was driven by one-time transaction expense related to company's acquisition by EchoStar. We believe the pending EchoStar (Nasdaq: SATS) transaction and Jupiter launch remain on track."
For more ratings news on Hughes Communications click here and for the rating history of Hughes Communications click here.
Shares of Hughes Communications closed at $59.79 yesterday.
Barclays analyst says, "HUGH reported strong subscriber adds in 1Q11, driven by improved marketing focus and government subsidies. Revenue was below
forecast, primarily due to timing issues related to telecom systems contracts and lower hardware sales in North America (as customers continued to prefer equipment leasing (which generates lower upfront hardware revenues) over outright purchases. Lower EBITDA was driven by one-time transaction expense related to company's acquisition by EchoStar. We believe the pending EchoStar (Nasdaq: SATS) transaction and Jupiter launch remain on track."
For more ratings news on Hughes Communications click here and for the rating history of Hughes Communications click here.
Shares of Hughes Communications closed at $59.79 yesterday.
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