DISH - Embedded Expectations Analysis - 2020 04 14
ï€ DISH Network Corporation (DISH:USA) currently trades below recent averages relative to UAFRS-based (Uniform) earnings, with a 23.7x Uniform P/E. At these levels, the market has muted expectations for the firm, and management may be concerned about their network architecture, subscribers, and growthï€ Specifically, management may have concerns about their agreement to use T-Mobile's network and their ability to find a network alternative with an acceptable architecture. Moreover, they may be downplaying concerns about data center costs, and they may lack confidence in their ability to improve Tracfone economics, grow their wireless business, and continue to activate high quality subscribers. In addition, they may have concerns about potential declines in TV viewership and the consistency of their Sling Blue and Orange service experiences
DISH Network is a holding company. Through its subsidiaries, the company operates two business segments: Pay-TV and Wireless. The company provides pay-TV services under: the DISH? brand, which consists of, among other things, Federal Communications Commission licenses authorizing the company to use direct broadcast satellite and Fixed Satellite Service spectrum, the company's owned and leased satellites, and certain other assets utilized in the company's operations; and the Sling? brand, which consists of, among other things, live-linear streaming over-the-top Internet-based domestic, international and Latino video programming services. In addition, the company invests to acquire certain wireless spectrum licenses and related assets.
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