I - Intelsat S.A.

NYSE - NYSE Delayed Price. Currency in USD
-5.38 (-40.12%)
At close: 4:00PM EST

7.10 -0.93 (-11.58%)
Pre-Market: 8:59AM EST

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Previous Close13.41
Bid7.70 x 1000
Ask7.80 x 2900
Day's Range6.71 - 14.03
52 Week Range6.71 - 29.54
Avg. Volume3,900,700
Market Cap1.132B
Beta (3Y Monthly)1.50
PE Ratio (TTM)N/A
EPS (TTM)-6.52
Earnings DateFeb 18, 2020 - Feb 24, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est28.78
  • FCC Chairman Calls for Public Auction of C-Band Airwaves

    FCC Chairman Calls for Public Auction of C-Band Airwaves

    (Bloomberg) -- The Federal Communications Commission decided to sell lucrative airwaves through a public auction rather than letting Intelsat SA and SES SA conduct a private sale of the frequencies, sending their shares plunging. The FCC’s plan, which could slash the satellite companies’ take by billions of dollars, was announced in a tweet by FCC Chairman Ajit Pai, who, according to agency officials, had earlier discussed the matter with President Donald Trump.Shares in both companies suffered their biggest ever declines, with Intelsat slumping 40% on Monday and SES down as much as 23% in early trading on Tuesday.Pai said the sale should free airwaves for 5G wireless use, do so quickly and generate revenue for the U.S. government. He didn’t say if any proceeds would be earmarked for the companies. The FCC could vote to adopt the plan early next year.“I’ve concluded that the best way to advance these principles is through a public auction,” Pai said in a tweet.The satellite companies signaled resistance, saying in a statement they would work toward an alternative and calling Pai’s plan “a significant departure” that “does not address the critical involvement of the incumbent satellite operators” in reconfiguring the uses of airwaves.“Intelsat is significantly over-levered. They need a major spectrum windfall to right-size their balance sheet and end up with a capital structure that’s tenable,” said Stephen Flynn, a telecom analyst at Bloomberg Intelligence. “The more uncertainty and the longer it takes, it adds more risk.”SES also needs the frequency income to cut debt ahead of a jump in capital spending expected in 2021, BI said. SES stock was down 21% at 10:46 a.m. in Paris, while its EU500m 2027 notes fell the most since pricing in late October. SES 5-year senior credit default swaps widened 19 basis points to 90 basis points, the most since 2009.Intelsat and SES -- both based in Luxembourg -- want to sell some of the airwaves they now use to send shows to TV stations across the U.S. Wireless providers gearing up for fast 5G networks are seeking additional capacity and might buy them. The satellite companies plan to retain enough airwaves to continue servicing TV stations.The satellite providers’ plan provoked opposition among lawmakers who expressed concern about European companies profiting from the sale of U.S. airwaves, including Senator John Kennedy, a Louisiana Republican who said he called Trump to raise an alarm. Trump called Pai on Oct. 30 and while the issue was discussed, the president didn’t direct the agency on what to do, said an FCC official who spoke on condition of anonymity.Kennedy told reporters that Pai was “putting both the American taxpayer and our 5G effort first” with Monday’s announcement.The senator said there “are some swamp creatures in the government who were trying to help some of their telecommunications buddies put all four feet and their snout into the trough -- and the FCC today said, ‘Nope, we’re going to do this right.’”Also Monday, leading Republicans introduced legislation requiring a C-band sale to begin by the end of next year, with taxpayers getting at least 50% of the airwaves’ market value.“This legislation would get crucial mid-band spectrum into the market to benefit the American people and secure our position as the leaders in the race to 5G,” Senator Roger Wicker, chairman of the Senate Commerce Committee, said in an emailed news release.Kennedy, who spoke in a telephone call, said he opposes the Wicker bill and wants taxpayers to harvest a higher percentage. He didn’t offer a figure.FCC officials declined to discuss what portion of sales the satellite companies might get under a public auction. They said the agency intends to begin the sale in 2020.JPMorgan said in a note that it appears “the private auction process is officially dead, but there is still no consensus of how to get to a public auction.”Intelsat wants to use proceeds to reduce some of its $14 billion debt load, otherwise its leverage could rise to a potentially unbearable level by the end of this year, according to Bloomberg Intelligence.An array of Intelsat notes sank on the news, with some 2025 maturities hitting their lowest level in more than a year and a 2024 bond setting an all-time low.Intelsat bonds led high-yield declines Monday, with its 8.125% notes maturing June 2023 dropping 9.25 cents on the dollar to 60.25 cents. The debt yields about 26%. Its 9.5% notes due February 2023 fell 8.1 cents on the dollar to 73.4 cents.On Nov. 15, the C-Band Alliance group made up of Intelsat, SES and Ottawa-based Telesat offered to voluntarily pay the U.S. Treasury 30% to 75% of the billions of dollars they could reap if they’re allowed to sell airwaves in a private auction.The airwaves in question are in the 3.7 gigahertz-to-4.2 gigahertz area of spectrum, known as the C-band. Intelsat and SES dominate that patch of airwaves, which are considered well-suited for 5G networks.Proponents say the frequencies are needed to help the U.S. beat China in a so-called race to 5G. The alliance that includes Intelsat and SES said its proposal would be quicker than an FCC-run auction.The C-Band Alliance in its statement Monday said that “the full cooperation of the satellite operators will be required to ensure the successful clearing of the C-band while protecting the incumbent broadcast services enjoyed by millions of U.S. households.”(Updates with SES bonds and CDS in eighth paragraph.)\--With assistance from Susan Decker.To contact the reporters on this story: Todd Shields in Washington at tshields3@bloomberg.net;Allison McNeely in New York at amcneely@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Thomas Pfeiffer, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • MarketWatch

    SES shares tumble 20% after FCC chairman voices support for public airwaves sale

    Shares of SES SA FDR tumbled 21% on Tuesday, a day after Federal Communications Chairman Ajit Pai said via Twitter that he would back a public auction to free up spectrum for 5G. Luxembourg-based satellite companies SES and Intelsat SA were lobbying for a private auction of the so-called C-band spectrum, used to deliver videos and radio programs to U.S. households. The FCC wants to free it up for carriers to bid on as 5G service gears up. Pai said the agency wants to make C-band spectrum available quickly for 5G and also must generate revenue for the government, saying the best way forward is an auction of 280 megahertz of the C-band. Intelsat shares plunged 40% on Monday.

  • Barrons.com

    Intelsat Tumbles Again After the FCC Chairman Backs a Public Auction for 5G Spectrum

    A key federal regulator is pushing back on the satellite industry’s plan to auction wireless spectrum for 5G networks.

  • FCC chief backs public auction for 5G spectrum, sending satellite stocks reeling again

    FCC chief backs public auction for 5G spectrum, sending satellite stocks reeling again

    The head of the Federal Communications Commission on Monday sided with some vocal lawmakers and disappointed three satellite companies, as he said that he supports a public auction of radio spectrum rather than the companies’ plan.

  • Business Wire

    C-Band Alliance Responds to Announcement by Federal Communications Commission Chairman Regarding the C-Band Spectrum Proceeding

    The C-Band Alliance (“CBA”), comprised of the leading global satellite operators Intelsat (NYSE:I), SES (Euronext Paris: SESG), and Telesat, responded today to an announcement by the Chairman of the Federal Communications Commission (“FCC”) that he intends to pursue a public auction to clear the satellite spectrum currently licensed to the members of the C-Band Alliance. The announcement does not address the critical involvement of the incumbent satellite operators in executing the complex task of reconfiguring and transitioning their networks.

  • ‘Give away $60 billion’ to foreign companies? The ‘America First’ Trump administration faces a tricky 5G choice

    ‘Give away $60 billion’ to foreign companies? The ‘America First’ Trump administration faces a tricky 5G choice

    A big step in U.S. 5G deployment could take place next month, as the FCC could back a proposal from the satellite industry for auctioning off radio spectrum. But some lawmakers don’t like the plan, and satellite stocks have slumped this week.

  • Barrons.com

    Intelsat Stock Rebounds After Satellite Firms File Plan for Spectrum Auction

    The stock had been cut in half amid concern that a plan to sell radio spectrum for use in 5G networks could be delayed for years.

  • Companies pushing controversial 5G spectrum auction offer to give at least 30% of proceeds to U.S. Treasury

    Companies pushing controversial 5G spectrum auction offer to give at least 30% of proceeds to U.S. Treasury

    The satellite companies behind a controversial plan for auctioning off key radio spectrum made a fresh push on Friday to win over sceptics, offering to pay at least 30% of the proposed auction’s net proceeds into the U.S. Treasury.

  • Business Wire

    C-Band Alliance Files U.S. Treasury Contribution Proposal with Federal Communications Commission

    The contribution proposal states that if the FCC adopts the CBA proposal, the CBA commits to pay a portion of net proceeds of a CBA-led auction to the U.S. Treasury using a progressive formula which ranges from 30% to 75% of proceeds depending on the outcome of the auction. This payment to the U.S. Treasury would be calculated after the netting of all costs incurred to plan for and take all actions to implement the CBA proposal to clear 300 MHz of spectrum and is inclusive of all federal income tax liabilities incurred by the CBA member companies as a direct result of the auction.

  • Barrons.com

    Intelsat Stock Slides Another 15% on Doubts Over 5G Spectrum Auction

    The sharp slide in Intelsat shares continued on Thursday, as concerns grow about the proposed auction of C-Band radio spectrum by an alliance of satellite communications companies for use by telcos building out 5G networks. The companies in the C-Band Alliance (CBA)— (I) (ticker: I) and SES (SGBAF), both based in Luxembourg, and Telesat, a Canadian firm majority-owned by (LORL) (LORL)—have proposed a private auction that would provide access to the spectrum to carriers building out 5G networks. The Federal Communications Commission is expected to take up the proposal as soon as its December meeting.

  • Benzinga

    Intelsat's Stock Slide Continues

    Intelsat SA (NYSE: I ) shares are down 38% in the past two sessions. The stock got a high-profile downgrade Wednesday on concerns about Intelsat’s proposed private spectrum auction proposal. Luxembourg-based ...

  • Barrons.com

    Intelsat Stock Tumbles as Controversy Grows Over 5G Spectrum Auction

    Concerns that the timing and terms of the auction will get entangled in politics is weighing on the shares of the satellite providers—with ramifications for the carriers and others in the 5G food chain.

  • Implied Volatility Surging for Intelsat (I) Stock Options

    Implied Volatility Surging for Intelsat (I) Stock Options

    Investors need to pay close attention to Intelsat (I) stock based on the movements in the options market lately.

  • Business Wire

    Intelsat Vice President Investor Relations to Present at Morgan Stanley European Technology, Media & Telecom Conference

    Intelsat S.A. (NYSE:I), the world’s leading provider of satellite services and leader in integrated satellite communications, announced today that Dianne VanBeber, VP Investor Relations, will present at the Morgan Stanley European Technology, Media & Telecom Conference in Barcelona, Spain on Wednesday, November 13, 2019 at 4:35 p.m.-5:15 p.m. CEST. A live webcast of the presentation will be accessible on Intelsat’s Investor Relations page, located at http://investors.intelsat.com.

  • This satellite intelligence company has landed $50M from Intelsat
    American City Business Journals

    This satellite intelligence company has landed $50M from Intelsat

    Herndon-based BlackSky, which provides satellite imaging and global monitoring services, has secured a $50 million loan from satellite firm Intelsat S.A. (NYSE: I), according to an announcement. The deal grants BlackSky access to Tysons-based Intelsat’s communications infrastructure, while the fresh funding will allow BlackSky to augment its existing business, the company said. “It takes a lot of expertise, engineering and capital to make smallsats viable; BlackSky is the first company to overcome these challenges with proven economies of scale," BlackSky President and CEO Brian O’Toole said in a statement.

  • Business Wire

    BlackSky Secures $50M in Funding from Intelsat

    BlackSky, a leading provider of geospatial intelligence, satellite imaging and global monitoring services, announced it has secured a $50 million senior secured loan from global satellite communications leader, Intelsat (NYSE:I). The transaction results in an industry first, creating a strategic relationship that pairs Earth observation with a global communications infrastructure. The new capital will allow BlackSky to augment existing assets and alliances, ensuring BlackSky remains a leader in delivering actionable Earth intelligence faster, with greater accuracy and more affordably than anyone else in the industry.

  • Is Intelsat S.A. (I) A Good Stock To Buy?
    Insider Monkey

    Is Intelsat S.A. (I) A Good Stock To Buy?

    A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period […]

  • Intelsat (I) Q3 Loss Wider Than Expected, Revenues Down Y/Y

    Intelsat (I) Q3 Loss Wider Than Expected, Revenues Down Y/Y

    Intelsat (I) reports Q3 loss due to asset impairment charge, lower revenues, increased bad debt expenses, staff and operations costs and increase in direct cost of revenues.

  • Thomson Reuters StreetEvents

    Edited Transcript of I earnings conference call or presentation 29-Oct-19 12:30pm GMT

    Q3 2019 Intelsat SA Earnings Call

  • Business Wire

    C-Band Alliance Joins With U.S. Wireless Community on FCC Filing Detailing C-Band Auction Principles

    The C-Band Alliance (CBA) announced today that it joined a number of national, regional, and rural wireless operators in an FCC filing detailing a set of principles to guide a process for auctioning off terrestrial rights to C-band spectrum. Consistent with the goal of clearing spectrum and completing the auction efficiently and expeditiously, the CBA has proposed to clear a first tranche of 120 MHz of spectrum, inclusive of the 20-MHz guard band, in 46 top metropolitan zones within 18 months of an FCC order. The auction design outlined in the principles agreed to by the CBA and the wireless operators addresses the shared goals of fairness and transparency and assures that the auction is open to all qualified bidders, consistent with FCC practice.

  • Intelsat (I) Reports Q3 Loss, Tops Revenue Estimates

    Intelsat (I) Reports Q3 Loss, Tops Revenue Estimates

    Intelsat (I) delivered earnings and revenue surprises of -5.00% and 0.71%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Business Wire

    Intelsat Announces Third Quarter 2019 Results

    LUXEMBOURG-- -- Third quarter revenue of $506.7 million Third quarter net loss attributable to Intelsat S.A. of $148.3 million Third quarter Adjusted EBITDA of $356.1 million, or 70 percent of revenue September 30, 2019 contracted backlog of $7.2 billion 2019 Financial Guidance Affirmed Intelsat S.A. , operator of the world’s first Globalized Network and leader in integrated satellite solutions, today ...

  • C-Band Alliance Proposes to Clear 300 MHz of Spectrum for Nationwide 5G Deployment
    Business Wire

    C-Band Alliance Proposes to Clear 300 MHz of Spectrum for Nationwide 5G Deployment

    The C-Band Alliance (CBA) announced today that it will commit to clear 300 MHz of C-band spectrum to support fast 5G wireless deployment throughout the continental U.S. In an updated filing with the U.S. Federal Communications Commission (FCC), the CBA detailed that the 300 MHz of spectrum includes a 20-MHz guard band to protect existing satellite services from 5G interference.

  • Business Wire

    Intelsat Announces 2019 Third Quarter Conference Call

    Intelsat S.A. , operator of the world’s first Globalized Network and a leader in integrated satellite communications, will hold a conference call and webcast on Tuesday, October 29, 2019 at 8:30 am EDT to discuss 2019 third quarter financial results.