Intelsat (NYSE:I) Rating Lowered to Hold at Zacks Investment Research

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Intelsat (NYSE:I) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, Zacks.com reports.

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. “

Separately, Morgan Stanley dropped their target price on Intelsat from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Intelsat currently has a consensus rating of “Hold” and a consensus target price of $29.33.

NYSE:I opened at $18.58 on Friday. Intelsat has a 1 year low of $14.81 and a 1 year high of $37.70. The stock’s 50 day simple moving average is $20.78 and its two-hundred day simple moving average is $20.11. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -7.97 and a beta of 1.40.

Intelsat (NYSE:I) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported ($1.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.10). The business had revenue of $509.40 million during the quarter, compared to analyst estimates of $500.08 million. During the same quarter last year, the firm posted ($0.38) earnings per share. Intelsat’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Intelsat will post -3.15 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in I. Voleon Capital Management LP acquired a new position in shares of Intelsat in the second quarter valued at about $2,081,000. Nuveen Asset Management LLC acquired a new position in shares of Intelsat in the second quarter valued at about $4,324,000. Neo Ivy Capital Management acquired a new position in shares of Intelsat in the second quarter valued at about $188,000. Canyon Capital Advisors LLC acquired a new position in shares of Intelsat in the second quarter valued at about $6,808,000. Finally, PointState Capital LP increased its holdings in shares of Intelsat by 3.4% in the second quarter. PointState Capital LP now owns 4,056,382 shares of the technology company’s stock valued at $78,897,000 after purchasing an additional 133,960 shares during the period. Hedge funds and other institutional investors own 93.10% of the company’s stock.

About Intelsat

Intelsat SA, together with 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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Analyst Recommendations for Intelsat (NYSE:I)

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