Morgan Stanley Cuts Intelsat (I) Price Target to $22.00

Intelsat (NYSE:I) had its target price decreased by Morgan Stanley from $24.00 to $22.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price indicates a potential upside of 2.33% from the stock’s previous close.

A number of other brokerages have also issued reports on I. Zacks Investment Research lowered Intelsat from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Barclays reiterated a “hold” rating and issued a $23.00 price target on shares of Intelsat in a report on Friday, February 1st. JPMorgan Chase & Co. upgraded Intelsat from a “neutral” rating to an “overweight” rating and set a $27.00 price target for the company in a report on Wednesday, April 3rd. TheStreet lowered Intelsat from a “c-” rating to a “d” rating in a report on Wednesday, February 6th. Finally, Raymond James upgraded 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Intelsat presently has an average rating of “Hold” and an average price target of $29.71.

Shares of NYSE:I traded down $1.00 during trading hours on Thursday, hitting $21.50. 300,641 shares of the company’s stock traded hands, compared to its average volume of 2,872,206. Intelsat has a 1 year low of $13.17 and a 1 year high of $37.70. The firm has a market capitalization of $3.01 billion, a PE ratio of -9.23 and a beta of 1.38.

Intelsat (NYSE:I) last announced its earnings results on Tuesday, April 30th. The technology company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.26). The business had revenue of $528.40 million during the quarter, compared to analyst estimates of $523.74 million. During the same period in the previous year, the business earned ($0.56) EPS. Intelsat’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that Intelsat will post -2.56 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Intelsat by 48.8% in the third quarter. Vanguard Group Inc. now owns 4,899,003 shares of the technology company’s stock worth $146,970,000 after buying an additional 1,607,665 shares in the last quarter. PointState Capital LP raised its stake in Intelsat by 7.0% in the first quarter. PointState Capital LP now owns 3,922,422 shares of the technology company’s stock worth $61,425,000 after buying an additional 257,727 shares in the last quarter. Norges Bank bought a new position in Intelsat in the fourth quarter worth approximately $33,155,000. Dimensional Fund Advisors LP raised its stake in Intelsat by 38.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,514,223 shares of the technology company’s stock worth $23,711,000 after buying an additional 423,045 shares in the last quarter. Finally, Morgan Stanley raised its stake in Intelsat by 167.3% in the first quarter. Morgan Stanley now owns 987,214 shares of the technology company’s stock worth $15,460,000 after buying an additional 617,906 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Intelsat Company Profile

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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Analyst Recommendations for Intelsat (NYSE:I)

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