Zacks Investment Research Lowers Eutelsat Communications (OTCMKTS:EUTLF) to Hold

Eutelsat Communications (OTCMKTS:EUTLFGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Eutelsat Communications S.A. a satellite operator. Its satellites broadcasts television channels to cable and satellite homes. The Company’s satellites also serves fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat’s broadband subsidiary, Skylogic, markets and operates access to high speed Internet services through teleports that serve enterprises, local communities, government agencies and aid organizations. Eutelsat Communications S.A. is headquartered in Paris, France. “

Several other equities analysts also recently weighed in on the stock. Barclays decreased their price target on shares of Eutelsat Communications from €13.00 ($13.98) to €11.70 ($12.58) and set an “overweight” rating on the stock in a research note on Monday, March 14th. Morgan Stanley cut their price objective on shares of Eutelsat Communications from €14.00 ($15.05) to €13.00 ($13.98) in a research report on Thursday, February 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $12.53.

Shares of OTCMKTS:EUTLF traded up $0.07 during midday trading on Wednesday, hitting $10.64. The company’s stock had a trading volume of 300 shares, compared to its average volume of 547. The business’s 50 day simple moving average is $11.08 and its 200 day simple moving average is $12.35. Eutelsat Communications has a 12-month low of $10.11 and a 12-month high of $15.30.

Eutelsat Communications Company Profile (Get Rating)

Eutelsat Communications SA engages in the operation of telecommunication satellites for the digital communications markets. It provides video services, such as broadcast DTH, distribution, HD and ultra HD channels, and occasional use services; connectivity services; and Internet of Things and low earth orbit solutions.

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