Loral Space & Communications Ltd. (NASDAQ:LORL) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

Separately, ValuEngine raised shares of Loral Space & Communications Ltd. from a hold rating to a buy rating in a research note on Friday, October 4th.

Loral Space & Communications Ltd. stock opened at $41.27 on Tuesday. Loral Space & Communications Ltd. has a 12-month low of $33.33 and a 12-month high of $47.07. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.53 and a beta of 1.01. The firm’s fifty day moving average price is $39.35 and its 200 day moving average price is $37.03.

Loral Space & Communications Ltd. (NASDAQ:LORL) last released its quarterly earnings results on Tuesday, August 6th. The communications equipment provider reported $1.23 earnings per share (EPS) for the quarter.

Institutional investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Loral Space & Communications Ltd. by 1.9% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 153,968 shares of the communications equipment provider’s stock worth $5,313,000 after buying an additional 2,900 shares during the period. Bank of Montreal Can increased its stake in Loral Space & Communications Ltd. by 106.0% during the 2nd quarter. Bank of Montreal Can now owns 2,066 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 1,063 shares during the period. BNP Paribas Arbitrage SA increased its stake in Loral Space & Communications Ltd. by 7.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,489 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 390 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Loral Space & Communications Ltd. in the 2nd quarter worth about $293,000. Finally, Allianz Asset Management GmbH increased its position in shares of Loral Space & Communications Ltd. by 13.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 14,721 shares of the communications equipment provider’s stock worth $508,000 after purchasing an additional 1,727 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Loral Space & Communications Ltd. Company Profile

Loral Space & Communications Inc, a satellite communications company, offers satellite-based communications services to the broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2018, the company provided satellite services to its customers through a fleet of 17 in-orbit geostationary satellites; and owned the Canadian Ka-band payload on the ViaSat-1 satellite.

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