EchoStar Corporation SATS recently announced that Kazakhstan-based Republican Center of Space Communication (“RCSC”) is using the Hughes JUPITER System ground platform to boost digitalization in the country.
EchoStar’s subsidiary Hughes Network Systems, LLC will supply JUPITER System equipment to more than 200 villages across Kazakhstan. This will facilitate smooth access of broadband internet connectivity and e-Government services through the government’s Digital Kazakhstan initiative.
Hughes Network offers broadband equipment and services, managed services (including software-defined networking) coupled with end-to-end network operation for clients including businesses, governments and airlines, globally.
EchoStar Corporation Price and Consensus
EchoStar Corporation price-consensus-chart | EchoStar Corporation Quote
JUPITER System is a VSAT (Very Small Aperture Terminal) platform for broadband services over both high-throughput and traditional satellites.
Hughes Network highlighted that JUPITER System connects more than 25 million people across over 50,000 hotspots worldwide.
JUPITER System offers operators with relatively better bandwidth and cost efficiencies compared with other satellite ground systems, added Hughes Network. The system features software-defined architecture, 5G-ready design and a cloud-powered network management. It powers various satellite applications including internet access, community Wi-Fi, cellular backhaul and aeronautical and maritime mobility.
JUPITER System is now in its third generation or Series 3. The EchoStar XXIV satellite, better known as Jupiter 3, commenced service in December 2023.
In the last reported quarter, SATS reported total revenues of $4.16 billion, down from $4.53 billion in the year-ago quarter. The downtick was primarily due to a decline in subscribers, particularly the Pay-TV segment.
Currently, EchoStar carries a Zacks Rank #3 (Hold). Shares of SATS have lost 16.7% in the past year compared with the sub-industry’s decline of 43.3%.
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Stocks to Consider
Some other top-ranked stocks worth consideration in the broader technology space are Manhattan Associates MANH, Watts Water Technologies WTS and Microsoft MSFT. While Manhattan Associates sports a Zacks Rank #1, Watts Water and Microsoft carry a Zacks Rank of 2 each, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MANH’s 2024 EPS has increased 3.6% in the past 60 days to $3.76. Manhattan Associates’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 27.6%. Shares of MANH have surged 78% in the past year.
The Zacks Consensus Estimate for Watts Water’s 2024 EPS has improved 3.1% to $8.56 in the past 60 days. The long-term earnings growth rate is pegged at 7.8%. Shares of WTS have jumped 25.3% in the past year.
The Zacks Consensus Estimate for Microsoft’s fiscal 2024 EPS is pegged at $11.63, indicating growth of 18.6% from the year-ago levels. Microsoft’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 8.8%. The long-term earnings growth rate is pegged at 16.2%. MSFT has gained 56.6% in the past year.
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