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Analyst Cuts Estimates on DISH
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Sorry, DISH Network, but Wall Street doesn't seem to love you like it used to.
On Tuesday, Collins Stewart analyst Tom Eagan cut his fiscal year 2009 estimate for the DBS provider, saying that he does not see "a sustainable turn-around in sight." Eagan cited DISH's lackluster first quarter results and a potentially damaging decision in the company's TiVo lawsuit in the decision.
Eagan said he now expects DISH to lose some 417,000 net subscribers this year, up from the 392,000 sub losses he had previously predicted, and report earnings of around $3.06 billion. The analyst had been expecting DISH to bring in about $3.16 billion this year, but falling subscriber numbers have eaten away at that revenue base.
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Sorry, DISH Network, but Wall Street doesn't seem to love you like it used to.
On Tuesday, Collins Stewart analyst Tom Eagan cut his fiscal year 2009 estimate for the DBS provider, saying that he does not see "a sustainable turn-around in sight." Eagan cited DISH's lackluster first quarter results and a potentially damaging decision in the company's TiVo lawsuit in the decision.
Eagan said he now expects DISH to lose some 417,000 net subscribers this year, up from the 392,000 sub losses he had previously predicted, and report earnings of around $3.06 billion. The analyst had been expecting DISH to bring in about $3.16 billion this year, but falling subscriber numbers have eaten away at that revenue base.
