Zacks Investment Research lowered shares of Intelsat (NYSE:I) from a hold rating to a sell rating in a research note published on Saturday morning.

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. “

Several other brokerages have also recently commented on I. Barclays reaffirmed a hold rating and set a $23.00 target price on shares of Intelsat in a report on Friday, February 1st. TheStreet cut shares of Intelsat from a c- rating to a d rating in a report on Wednesday, February 6th. Raymond James raised shares of Intelsat from an underperform rating to a market perform rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. Finally, Evercore ISI started coverage on shares of Intelsat in a report on Monday, February 25th. They set an outperform rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intelsat presently has a consensus rating of Hold and a consensus target price of $31.17.

Shares of I stock opened at $17.17 on Friday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -7.37 and a beta of 1.35. Intelsat has a 12-month low of $3.55 and a 12-month high of $37.70.

Intelsat (NYSE:I) last issued its quarterly earnings data on Wednesday, February 20th. The technology company reported ($0.81) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.67). The business had revenue of $542.70 million for the quarter, compared to analysts’ expectations of $539.00 million. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.75) EPS. Sell-side analysts anticipate that Intelsat will post -1.11 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its holdings 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 during the period. EAM Investors LLC acquired a new position in shares of Intelsat during the third quarter worth $3,530,000. Dimensional Fund Advisors LP lifted its holdings 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 during the period. We Are One Seven LLC acquired a new position in shares of Intelsat during the fourth quarter worth $49,000. Finally, Vanguard Group Inc lifted its holdings 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 during the period. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

About Intelsat

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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