Intelsat (I) Shares Up 4.3%

Intelsat (NYSE:I)’s share price shot up 4.3% during mid-day trading on Thursday . The company traded as high as $16.42 and last traded at $16.96. 219,514 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 4,482,055 shares. The stock had previously closed at $16.26.

A number of research firms have recently issued reports on I. JPMorgan Chase & Co. upgraded Intelsat from an “underweight” rating to a “neutral” rating in a report on Thursday, March 1st. ValuEngine raised Intelsat from a “hold” rating to a “buy” rating in a research report on Monday, April 9th. Jefferies Group reaffirmed a “hold” rating on shares of Intelsat in a research report on Tuesday, February 6th. Barclays began coverage on Intelsat in a research report on Friday, March 16th. They issued a “neutral” rating and a $4.76 target price for the company. Finally, Zacks Investment Research lowered Intelsat from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.38.

The stock has a market capitalization of $1.74 billion, a PE ratio of -10.04 and a beta of 0.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of -3.56.

Intelsat (NYSE:I) last announced its earnings results on Tuesday, May 1st. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.16). The firm had revenue of $543.80 million during the quarter, compared to analysts’ expectations of $520.47 million. During the same period in the prior year, the company earned ($0.29) earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. equities analysts anticipate that Intelsat will post -1.67 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Intelsat by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 561,774 shares of the technology company’s stock worth $2,112,000 after buying an additional 7,833 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Intelsat by 17.0% in the 3rd quarter. Wells Fargo & Company MN now owns 97,043 shares of the technology company’s stock worth $456,000 after buying an additional 14,066 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Intelsat by 0.9% in the 1st quarter. BlackRock Inc. now owns 1,719,546 shares of the technology company’s stock worth $6,464,000 after buying an additional 14,580 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Intelsat by 355.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 28,223 shares of the technology company’s stock worth $106,000 after buying an additional 22,025 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Intelsat by 70.5% in the 1st quarter. Millennium Management LLC now owns 109,994 shares of the technology company’s stock worth $414,000 after buying an additional 45,472 shares during the last quarter. Institutional investors and hedge funds own 40.24% of the company’s stock.

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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