Jefferies Financial Group Reiterates “Buy” Rating for Intelsat (I)
Intelsat (NYSE:I)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a research report issued on Tuesday.
The analysts wrote, “Median short interest for the Beverages group decreased -2.7% since 9/14, while positions against Household Products decreased -1.2% during the same period. Among the largest decreases in Beverages since 9/14 were BFB (-23%), CCE (-8%), and STZ (-7%); among the largest decreases in HPC were CLX (-6%), ENR (-4%), and CL (-3%). Median days to cover for Beverages are 2.3 and 6.4 for HPC. Our favored long ideas are and PETQ. Short interest update: Median short interest (SI) for the Beverages group decreased -2.7% since 9/14, while positions against the HPC group decreased -1.2%. In aggregate, short interest for the overall staples group decreased -1.8% since 9/14. Short interest levels decreased for 20 of the 30 companies in our composite Staples index.””
I has been the topic of a number of other research reports. Zacks Investment Research raised shares of Intelsat from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Royal Bank of Canada raised shares of Intelsat from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $13.80.
Intelsat (NYSE:I) last posted its earnings results on Tuesday, July 31st. The technology company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.14. The firm had revenue of $537.70 million for the quarter, compared to analysts’ expectations of $528.50 million. Intelsat’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned ($0.20) earnings per share. Analysts expect that Intelsat will post -1.55 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Sound Point Capital Management LP acquired a new stake in Intelsat during the 2nd quarter worth $6,927,000. Millennium Management LLC boosted its stake in Intelsat by 70.5% during the 1st quarter. Millennium Management LLC now owns 109,994 shares of the technology company’s stock worth $414,000 after purchasing an additional 45,472 shares during the last quarter. Maplelane Capital LLC acquired a new stake in Intelsat during the 2nd quarter worth $1,666,000. The Manufacturers Life Insurance Company boosted its stake in Intelsat by 355.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 28,223 shares of the technology company’s stock worth $106,000 after purchasing an additional 22,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Intelsat by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 561,774 shares of the technology company’s stock worth $2,112,000 after purchasing an additional 7,833 shares during the last quarter. 50.47% of the stock is currently owned by hedge funds and other institutional investors.
Intelsat SA, through 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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