Zacks Investment Research Upgrades Intelsat (I) to Buy

Intelsat (NYSE:I) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 3rd. The brokerage presently has a $3.75 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.33% from the stock’s previous close.

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 analysts have also issued reports on the company. UBS Group lowered Intelsat from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $3.50 to $3.00 in a research note on Wednesday, November 1st. Jefferies Group reissued a “buy” rating and set a $5.00 price objective on shares of Intelsat in a research note on Wednesday, October 4th. Royal Bank of Canada downgraded Intelsat from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. Finally, ValuEngine downgraded Intelsat from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.04.

Intelsat (NYSE:I) opened at $3.28 on Wednesday. The company has a debt-to-equity ratio of -3.83, a quick ratio of 1.11 and a current ratio of 1.11. Intelsat has a 12 month low of $2.63 and a 12 month high of $7.47.

Intelsat (NYSE:I) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $538.80 million for the quarter, compared to analysts’ expectations of $536.93 million. During the same quarter in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. equities research analysts anticipate that Intelsat will post -1 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in I. Vanguard Group Inc. boosted its position in shares of Intelsat by 16.0% in the 1st quarter. Vanguard Group Inc. now owns 1,614,972 shares of the technology company’s stock valued at $6,702,000 after purchasing an additional 222,457 shares during the period. Morgan Stanley raised its stake in Intelsat by 21.6% during the 1st quarter. Morgan Stanley now owns 264,441 shares of the technology company’s stock valued at $1,097,000 after acquiring an additional 46,998 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Intelsat by 7.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 123,842 shares of the technology company’s stock valued at $514,000 after acquiring an additional 8,550 shares during the last quarter. Rhumbline Advisers raised its stake in Intelsat by 15.3% during the 2nd quarter. Rhumbline Advisers now owns 39,692 shares of the technology company’s stock valued at $121,000 after acquiring an additional 5,265 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Intelsat by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,009 shares of the technology company’s stock valued at $351,000 after acquiring an additional 9,913 shares during the last quarter. 36.43% of the stock is owned by institutional investors and hedge funds.

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About Intelsat

Intelsat SA operates in satellite services business. The Company provides satellite services to its communications customers around the world. It provides 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 (ISPs).

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