Intelsat (I) Stock Price Down 6.7% on Analyst Downgrade

Shares of Intelsat SA (NYSE:I) traded down 6.7% on Monday after Morgan Stanley lowered their price target on the stock from $28.00 to $24.00. Morgan Stanley currently has an equal weight rating on the stock. Intelsat traded as low as $15.62 and last traded at $16.02. 4,397,414 shares changed hands during trading, an increase of 57% from the average session volume of 2,799,275 shares. The stock had previously closed at $17.17.

Other analysts have also recently issued reports about the stock. Evercore ISI assumed coverage on shares of Intelsat in a research note on Monday, February 25th. They set an “outperform” rating and a $50.00 price objective on the stock. TheStreet cut shares of Intelsat from a “c-” rating to a “d” rating in a research note on Wednesday, February 6th. Zacks Investment Research cut shares of Intelsat from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays reaffirmed a “hold” rating and set a $23.00 price objective on shares of Intelsat in a research note on Friday, February 1st. Finally, Raymond James raised shares of Intelsat from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 6th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.50.

Institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its position in shares of Intelsat by 234.6% during the third quarter. Morgan Stanley now owns 1,087,211 shares of the technology company’s stock worth $32,616,000 after purchasing an additional 762,234 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Intelsat during the third quarter worth approximately $3,530,000. Dimensional Fund Advisors LP lifted its position in shares of Intelsat by 21.3% during the third quarter. Dimensional Fund Advisors LP now owns 681,629 shares of the technology company’s stock worth $20,449,000 after purchasing an additional 119,855 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of Intelsat during the fourth quarter worth approximately $49,000. Finally, Vanguard Group Inc lifted its position in shares of Intelsat by 48.8% during the third quarter. Vanguard Group Inc now owns 4,899,003 shares of the technology company’s stock worth $146,970,000 after purchasing an additional 1,607,665 shares in the last quarter. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $2.37 billion, a PE ratio of -6.88 and a beta of 1.35.

Intelsat (NYSE:I) last announced its earnings results on Wednesday, February 20th. The technology company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.67). The firm had revenue of $542.70 million for the quarter, compared to the consensus estimate of $539.00 million. During the same quarter last year, the firm earned ($0.75) EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect that Intelsat SA will post -1.11 earnings per share for the current fiscal year.

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Intelsat Company Profile (NYSE:I)

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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