Intelsat S.A. (NYSE:I) shares were up 4.9% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $3.48 and last traded at $3.40, with a volume of 205,056 shares changing hands. The stock had previously closed at $3.24.
The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. Intelsat had a net margin of 36.95% and a negative return on equity of 1.90%. The firm had revenue of $533.20 million for the quarter, compared to analysts’ expectations of $534.16 million. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded shares of Intelsat from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th.
Several institutional investors have recently added to or reduced their stakes in I. Vanguard Group Inc. boosted its position in Intelsat by 16.0% in the first quarter. Vanguard Group Inc. now owns 1,614,972 shares of the technology company’s stock worth $6,702,000 after buying an additional 222,457 shares during the last quarter. Spark Investment Management LLC purchased a new position in Intelsat during the second quarter worth about $1,451,000. California Public Employees Retirement System boosted its position in Intelsat by 11.1% in the first quarter. California Public Employees Retirement System now owns 375,500 shares of the technology company’s stock worth $1,558,000 after buying an additional 37,500 shares during the last quarter. Renaissance Technologies LLC boosted its position in Intelsat by 85.7% in the first quarter. Renaissance Technologies LLC now owns 355,800 shares of the technology company’s stock worth $1,477,000 after buying an additional 164,200 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Intelsat by 11.0% in the first quarter. Geode Capital Management LLC now owns 288,600 shares of the technology company’s stock worth $1,197,000 after buying an additional 28,572 shares during the last quarter. Hedge funds and other institutional investors own 38.61% of the company’s stock.
The stock’s 50-day moving average price is $3.12 and its 200-day moving average price is $3.51. The stock has a market cap of $406.89 million, a PE ratio of 0.51 and a beta of 2.11.
ILLEGAL ACTIVITY WARNING: “Intelsat S.A. (I) Trading Up 4.9% After Strong Earnings” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/07/30/intelsat-s-a-i-trading-up-4-9-after-strong-earnings.html.
Intelsat Company Profile
Intelsat SA operates in satellite services business. The Company provides satellite services to its communications customers around the world. It provides 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 (ISPs).
Receive News & Ratings for Intelsat S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intelsat S.A. and related companies with MarketBeat.com's FREE daily email newsletter.
