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

Intelsat (NYSE:I) had its price target reduced by Morgan Stanley from $24.00 to $22.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Intelsat from a hold rating to a sell rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. raised Intelsat from a neutral rating to an overweight rating and set a $27.00 price objective on the stock in a report on Wednesday, April 3rd. Raymond James raised 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. Evercore ISI began coverage on Intelsat in a report on Monday, February 25th. They set an outperform rating and a $50.00 price objective on the stock. Finally, TheStreet downgraded Intelsat from a c- rating to a d rating in a report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $29.71.

Shares of I traded down $0.03 during midday trading on Thursday, hitting $21.21. The company’s stock had a trading volume of 5,720 shares, compared to its average volume of 2,206,409. Intelsat has a one year low of $13.64 and a one year high of $37.70. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -9.11 and a beta of 1.38.

Intelsat (NYSE:I) last issued its quarterly 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 firm had revenue of $528.40 million during the quarter, compared to the consensus estimate of $523.74 million. During the same quarter last year, the firm posted ($0.56) EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Intelsat will post -2.56 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Intelsat by 48.8% during the 3rd 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 during the period. PointState Capital LP lifted its holdings in Intelsat by 7.0% during the 1st 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 during the period. Norges Bank acquired a new position in Intelsat during the 4th quarter worth about $33,155,000. Dimensional Fund Advisors LP lifted its holdings in Intelsat by 38.8% during the 1st 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 during the period. Finally, Morgan Stanley lifted its holdings in Intelsat by 167.3% during the 1st 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 during the period. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

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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