Intelsat (I) Shares Down 9.2%

Intelsat SA (NYSE:I) shares traded down 9.2% during mid-day trading on Wednesday . The stock traded as low as $29.44 and last traded at $29.48. 3,393,253 shares traded hands during trading, an increase of 22% from the average session volume of 2,776,003 shares. The stock had previously closed at $32.46.

Several research analysts have issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Intelsat in a research report on Tuesday. Zacks Investment Research raised shares of Intelsat from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Royal Bank of Canada raised shares of Intelsat from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Intelsat has a consensus rating of “Hold” and an average target price of $13.80.

The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -17.34 and a beta of 0.99. The company has a debt-to-equity ratio of -3.79, a quick ratio of 1.21 and a current ratio of 1.21.

Intelsat (NYSE:I) last issued its earnings results on Tuesday, July 31st. The technology company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.14. The firm had revenue of $537.70 million during the quarter, compared to analysts’ expectations of $528.50 million. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. Analysts predict that Intelsat SA will post -1.55 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Intelsat in the second quarter valued at about $102,000. The Manufacturers Life Insurance Company lifted its stake in shares of Intelsat by 355.4% in the first quarter. The Manufacturers Life Insurance Company now owns 28,223 shares of the technology company’s stock valued at $106,000 after purchasing an additional 22,025 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Intelsat in the second quarter valued at about $122,000. Macquarie Group Ltd. acquired a new stake in shares of Intelsat in the second quarter valued at about $148,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Intelsat in the third quarter valued at about $190,000. 50.47% of the stock is currently owned by institutional investors and hedge funds.

About Intelsat (NYSE:I)

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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