Intelsat (I) Trading Down 6.3%

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Intelsat SA (NYSE:I) dropped 6.3% during mid-day trading on Friday . The stock traded as low as $25.86 and last traded at $26.67. Approximately 2,651,953 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 2,831,561 shares. The stock had previously closed at $28.45.

I has been the subject of several recent research reports. Zacks Investment Research raised shares of Intelsat from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, August 1st. Goldman Sachs Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Intelsat in a research report on Monday, October 22nd. Finally, Jefferies Financial Group set a $32.00 price objective on shares of Intelsat and gave the stock a “buy” rating in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intelsat currently has a consensus rating of “Hold” and a consensus price target of $19.40.

The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -15.69 and a beta of 1.31.

Intelsat (NYSE:I) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported ($1.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($1.63). The business had revenue of $537.00 million for the quarter, compared to the consensus estimate of $531.97 million. During the same period in the prior year, the company posted ($0.26) earnings per share. Intelsat’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Intelsat SA will post -1.55 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of I. BlackRock Inc. lifted its position in Intelsat by 11.0% in the 2nd quarter. BlackRock Inc. now owns 1,908,355 shares of the technology company’s stock valued at $31,793,000 after purchasing an additional 188,809 shares during the last quarter. Renaissance Technologies LLC lifted its position in Intelsat by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,640,400 shares of the technology company’s stock valued at $27,329,000 after purchasing an additional 240,800 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in Intelsat in the 2nd quarter valued at about $13,725,000. Dimensional Fund Advisors LP increased its stake in Intelsat by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 561,774 shares of the technology company’s stock valued at $2,112,000 after buying an additional 7,833 shares during the period. Finally, Sound Point Capital Management LP acquired a new position in Intelsat during the 2nd quarter valued at about $6,927,000. Institutional investors own 49.81% of the company’s stock.

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Intelsat Company Profile (NYSE:I)

Intelsat SA, through its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.

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