NEW YORK (TheStreet) -- Dish Network (DISH) shares are down 0.75% to $77.72 in trading on Monday despite the release of the satellite television provider's strong fourth quarter earnings results following its surprise announcement that CEO Joseph Clayton will step down.
Clayton is scheduled to retire on March 31 with company chairman and co-founder Charlie Ergen scheduled to takeover as CEO once Clayton leaves.
The company reported fourth quarter earnings of $409.9 million, or 88 cents per diluted share, more than doubling the 43 cents per share analysts were expecting the company to report during the period. However, revenue of $3.68 billion fell below analysts' $3.7 billion estimates.
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The company also reported that it had a net loss of 79,000 pay-TV subscribers in 2014, a significant increase from the just 1,000 subscribers it lost in all of 2013. The company partly blamed the increase on programming interruptions, such as the one that blacked out FOX News (FOXA) stations late last year.
TheStreet Ratings team rates DISH NETWORK CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISH NETWORK CORP (DISH) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: DISH Ratings Report