Intelsat (NYSE:I) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Intelsat Investments S.A. provides satellite communications services. The company offers network services comprising transponder services, video distribution and contribution services, hybrid satellite, fiber and teleport managed services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications, multinational corporations, internet service providers, military and government sectors. Intelsat Investments S.A. is based in Luxembourg. “
Other research analysts have also issued research reports about the company. Jefferies Financial Group reissued a “buy” rating on shares of Intelsat in a report on Tuesday, October 9th. Morgan Stanley raised Intelsat from an “underweight” rating to an “equal weight” rating and set a $28.00 price objective on the stock in a report on Monday. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $31.00 price objective on shares of Intelsat in a report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.80.
Shares of I stock opened at $25.59 on Wednesday. Intelsat has a fifty-two week low of $2.44 and a fifty-two week high of $37.70. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -15.05 and a beta of 1.31.
Intelsat (NYSE:I) last issued its earnings results on Tuesday, October 30th. The technology company reported ($1.95) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.63). The business had revenue of $537.00 million during the quarter, compared to the consensus estimate of $531.97 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Intelsat’s revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that Intelsat will post -1.55 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invictus RG acquired a new stake in Intelsat in the 3rd quarter valued at approximately $1,023,000. Renaissance Technologies LLC grew its holdings in Intelsat by 23.6% in the 3rd quarter. Renaissance Technologies LLC now owns 2,027,900 shares of the technology company’s stock valued at $60,837,000 after buying an additional 387,500 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Intelsat in the 3rd quarter valued at approximately $600,000. Dimensional Fund Advisors LP grew its holdings in Intelsat by 21.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 681,629 shares of the technology company’s stock valued at $20,449,000 after buying an additional 119,855 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new stake in Intelsat in the 3rd quarter valued at approximately $344,000. 50.14% of the stock is currently owned by hedge funds and other institutional investors.
Intelsat Company Profile
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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