In a report released today, Kevin Grundy from Jefferies maintained a Buy rating on Intelsat SA (NYSE: I). The company’s shares opened today at $32.46, close to its 52-week high of $34.26.
Grundy observed:
“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.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 6.8% and a 64.5% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Skyline Champion Corporation, Coca-Cola European Partners, and Constellation Brands Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intelsat SA.
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Based on Intelsat SA’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $46.83 million. In comparison, last year the company had a GAAP net loss of $30.41 million.
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Intelsat SA provides satellite services business, which provides a layer in the global communications infrastructure. It provides communication services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications, multinational corporations and ISPs.
