Intelsat rockets ahead
February 22, 2017
By Chris Forrester
Satellite giant Intelsat’s share price has suffered badly for a number of years not helped by flat revenues and a high debt load.
However, February 21st saw Intelsat’s shares hit a 52-week ‘high’ of $4.75 (up 11.72 per cent) ahead of the company’s results due on February 28th. The past year has seen Intelsat’s share price hovering around the $2.50-$3.00 mark, so this move represents a $200 million uplift to the company’s market-capitaisation.
The stock has traded between $4.50 and $1.44 over the last 52-weeks.
Intelsat recently brought into service another of its high-performance ‘Epic’ satellites (I-32e), and has two others scheduled for launch this year, with I-35e due for launch in Q2/2017.