Intelsat (NYSE:I) Trading Up 5.5%

Intelsat SA (NYSE:I) was up 5.5% on Wednesday . The company traded as high as $22.30 and last traded at $22.11, approximately 1,688,245 shares traded hands during mid-day trading. A decline of 26% from the average daily volume of 2,279,068 shares. The stock had previously closed at $20.96.

A number of equities research analysts recently issued reports on I shares. Zacks Investment Research lowered Intelsat from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Morgan Stanley reduced their price target on Intelsat from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, May 16th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Intelsat has a consensus rating of “Hold” and an average target price of $29.33.

The business has a 50-day simple moving average of $20.45 and a two-hundred day simple moving average of $19.67. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -9.49 and a beta of 1.50.

Intelsat (NYSE:I) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported ($1.05) earnings per share (EPS) for the quarter, missing the 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 period last year, the company earned ($0.38) earnings per share. Intelsat’s revenue was down 5.3% on a year-over-year basis. Analysts predict that Intelsat SA will post -2.25 EPS for the current year.

A number of hedge funds have recently bought and sold shares of I. Voleon Capital Management LP acquired a new position in shares of Intelsat during the 2nd quarter worth approximately $2,081,000. Nuveen Asset Management LLC acquired a new stake in shares of Intelsat in the second quarter valued at approximately $4,324,000. Neo Ivy Capital Management acquired a new stake in shares of Intelsat in the second quarter valued at approximately $188,000. Canyon Capital Advisors LLC acquired a new stake in shares of Intelsat in the second quarter valued at approximately $6,808,000. Finally, PointState Capital LP boosted its stake 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 buying an additional 133,960 shares during the period. Hedge funds and other institutional investors own 90.80% of the company’s stock.

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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