Intelsat SA Trading Up 3.5% on Strong Earnings (I)
Intelsat SA (NYSE:I)’s share price was up 3.5% during mid-day trading on Monday following a better than expected earnings announcement, AnalystRatings.Net reports. The company traded as high as $19.28 and last traded at $18.76, with a volume of 108,200 shares changing hands. The stock had previously closed at $18.13.
The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.25. The company had revenue of $615.70 million for the quarter, compared to the consensus estimate of $621.14 million. During the same quarter in the previous year, the company posted ($4.19) earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis.
A number of research firms have recently commented on I. Analysts at Zacks upgraded shares of Intelsat SA from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 15th. They now have a $20.00 price target on the stock. Analysts at Evercore Partners raised their price target on shares of Intelsat SA from $26.00 to $28.00 in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.67.
The stock has a 50-day moving average of $18.79 and a 200-day moving average of $19.18. The company’s market cap is $1.992 billion.
Intelsat SA is a satellite services business, providing a layer in the global communications infrastructure.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.