Intelsat (I) Cut to “Sell” at Zacks Investment Research

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

Several other equities analysts have also issued reports on I. Barclays reiterated a hold rating and issued a $23.00 target price on shares of Intelsat in a research note on Friday, February 1st. TheStreet lowered Intelsat from a c- rating to a d rating in a research note on Wednesday, February 6th. JPMorgan Chase & Co. upgraded Intelsat from a neutral rating to an overweight rating and set a $27.00 target price on the stock in a research note on Wednesday, April 3rd. Evercore ISI began coverage on Intelsat in a research note on Monday, February 25th. They issued an outperform rating and a $50.00 target price on the stock. Finally, Morgan Stanley reiterated an equal weight rating and issued a $24.00 target price (down previously from $28.00) on shares of Intelsat in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $30.00.

I opened at $19.50 on Thursday. Intelsat has a 1 year low of $7.88 and a 1 year high of $37.70. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -8.37 and a beta of 1.28.

Intelsat (NYSE:I) last posted its earnings results on Wednesday, February 20th. The technology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.67). The business had revenue of $542.70 million during the quarter, compared to the consensus estimate of $539.00 million. During the same quarter in the previous year, the business earned ($0.75) EPS. Intelsat’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Intelsat will post -1.3 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of I. Csenge Advisory Group purchased a new stake in shares of Intelsat during the third quarter worth about $28,000. We Are One Seven LLC purchased a new stake in shares of Intelsat during the fourth quarter worth about $49,000. Quantamental Technologies LLC purchased a new stake in shares of Intelsat during the fourth quarter worth about $51,000. Nisa Investment Advisors LLC grew its stake in shares of Intelsat by 1,291.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the technology company’s stock worth $71,000 after acquiring an additional 3,100 shares during the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Intelsat by 13.0% during the fourth quarter. FDx Advisors Inc. now owns 12,961 shares of the technology company’s stock worth $277,000 after acquiring an additional 1,491 shares during the last quarter. Institutional investors and hedge funds own 59.70% 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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