Intelsat (I) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Intelsat (NYSE:I) from a hold rating to a sell rating in a research report report published on Wednesday, 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. “

A number of other research analysts have also issued reports on the company. Raymond James raised Intelsat from an underperform rating to a market perform rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an equal weight rating and set a $24.00 target price (down from $28.00) on shares of Intelsat in a report on Monday, March 18th. Evercore ISI began coverage on Intelsat in a research note on Monday, February 25th. They issued an outperform rating and a $50.00 price target on the stock. JPMorgan Chase & Co. raised Intelsat from a neutral rating to an overweight rating and set a $27.00 price target on the stock in a research note on Wednesday, April 3rd. Finally, TheStreet cut Intelsat from a c- rating to a d rating in a research note on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Intelsat has a consensus rating of Buy and a consensus price target of $30.00.

NYSE:I opened at $20.47 on Wednesday. The stock has a market cap of $2.83 billion, a P/E ratio of -8.79 and a beta of 1.28. Intelsat has a 52-week low of $9.58 and a 52-week high of $37.70.

Intelsat (NYSE:I) last released its earnings results on Wednesday, February 20th. The technology company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.67). The company had revenue of $542.70 million during the quarter, compared to analysts’ expectations of $539.00 million. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.75) earnings per share. Analysts anticipate that Intelsat will post -1.3 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of I. Bank of New York Mellon Corp boosted its position in Intelsat by 50.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 194,730 shares of the technology company’s stock worth $5,842,000 after acquiring an additional 65,074 shares during the period. Credit Suisse AG boosted its position in Intelsat by 77.8% during the 3rd quarter. Credit Suisse AG now owns 34,748 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 15,206 shares during the period. Dimensional Fund Advisors LP boosted its position in Intelsat by 21.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 681,629 shares of the technology company’s stock worth $20,449,000 after acquiring an additional 119,855 shares during the period. Man Group plc acquired a new stake in Intelsat during the 3rd quarter worth about $2,504,000. Finally, AQR Capital Management LLC boosted its position in Intelsat by 7.8% during the 3rd quarter. AQR Capital Management LLC now owns 91,201 shares of the technology company’s stock worth $2,736,000 after acquiring an additional 6,592 shares during the period. 59.70% of the stock is currently owned by hedge funds and other institutional investors.

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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