Intelsat (NYSE:I) Shares Gap Down to $14.43

Intelsat SA (NYSE:I) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.84, but opened at $14.43. Intelsat shares last traded at $12.09, with a volume of 1,483,355 shares changing hands.

Several analysts have issued reports on the company. Zacks Investment Research downgraded Intelsat from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. JPMorgan Chase & Co. downgraded Intelsat from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $22.00 in a research note on Tuesday. Finally, Barclays set a $20.00 price target on Intelsat and gave the company a “hold” rating in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.40.

The firm has a market cap of $3.21 billion, a P/E ratio of -5.21 and a beta of 1.49. The business has a fifty day moving average of $24.26 and a 200 day moving average of $21.41.

Intelsat (NYSE:I) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported ($2.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.86). The company had revenue of $506.70 million during the quarter, compared to analyst estimates of $502.15 million. During the same period in the prior year, the firm earned ($0.26) EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Intelsat SA will post -3.5 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of I. FMR LLC bought a new stake in shares of Intelsat during the first quarter worth approximately $1,277,000. Ipswich Investment Management Co. Inc. raised its position in shares of Intelsat by 18.2% in the second quarter. Ipswich Investment Management Co. Inc. now owns 23,830 shares of the technology company’s stock valued at $463,000 after buying an additional 3,670 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Intelsat in the second quarter valued at approximately $635,000. Aperio Group LLC acquired a new stake in shares of Intelsat in the second quarter valued at approximately $110,000. Finally, Hartwell J M Limited Partnership raised its position in shares of Intelsat by 0.8% in the second quarter. Hartwell J M Limited Partnership now owns 496,150 shares of the technology company’s stock valued at $9,650,000 after buying an additional 3,950 shares in the last quarter. Institutional investors own 90.90% of the company’s stock.

About Intelsat (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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