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JPMorgan cuts target price on Inmarsat on maritime woes

Fri, 19th Oct 2018 10:25

(Sharecast News) - JPMorgan Cazenove took a fresh look at Inmarsat ahead of the satellite operator's third-quarter results on 8 November, where it expected "robust" financials but is beginning to get worried about stiffer maritime competition.The broker felt the maritime unit was "entering shallow waters" and predicted a 0.3% year-on-year revenue decline, following the 0.1% increase in the second quarter.On a more positive note, Cazenove, which reiterated its 'neutral' stance on Inmarsat's shares, believes the associated mid-term revenue downgrades appeared likely to be fully offset by aviation and enterprise upgrades, where revenues were projected to be ahead of consensus.However, as this new balance is expected to produce an unfavourable margin mix, analysts lowered their EBITDA estimates 2% per year and cut its target price on Inmarsat to 615p from 650p."Whilst unhelpful, we believe the next six months will see investor attention shift to upcoming developments around the long-running L-band spectrum dispute."Inmarsat, which connects 34,500 vessels with FleetBroadband via its L-band communications terminals, has urged the FCC to act promptly in approving partner Ligado Networks' proposal to deploy a terrestrial network using 40 MHz of mid-band spectrum in the 1500 MHz to 1700 MHz range.Cazenove highlighted that, if Inmarsat's L-band spectrum was approved, and then subsequently acquired by a telco, there could be "even more substantial upside potential".
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21 Mar 2019 15:10

FTSE 250 movers: Renishaw rocked, Hunting gushes higher

(Sharecast News) - London's FTSE 250 was 0.42% lower at 19,306.99 in afternoon trading on Thursday, as Renishaw led the index lower.

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20 Mar 2019 17:14

LONDON MARKET CLOSE: Stocks Down Ahead Of US Fed Rate Decision

LONDON (Alliance News) - Stocks in London ended lower on Wednesday amid caution over the trade war between the US and China and the US Federal Reserve's imminent interest rate decision. Top US

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20 Mar 2019 12:02

LONDON MARKET MIDDAY: FTSE Struggles From Mining Weakness Ahead Of Fed

LONDON (Alliance News) - Stocks traded cautiously ahead of the US Federal Reserve's latest interest rate decision, with miners and B&Q owner Kingfisher keeping the FTSE in

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20 Mar 2019 10:31

WINNERS & LOSERS SUMMARY: Inmarsat Up As Private Equity Firms Make Bid

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.----------FTSE 100 - Group, up 1.1%. The telecommunications was

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20 Mar 2019 08:44

LONDON MARKET OPEN: Inmarsat Up On Takeover Bid; Kier Slashes Payout

LONDON (Alliance News) - Renewed worries over US-China trade talks send UK share prices lower at the open on Wednesday, with UK inflation readings and a US interest decision due later in the was a

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20 Mar 2019 07:48

Inmarsat takes off after confirming private equity talks

(Sharecast News) - Satellite communications group Inmarsat confirmed on Tuesday evening that it was in talks with a consortium of private equity companies after receiving a $3.3bn proposal to buy the company out in January.

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19 Mar 2019 18:45

TOP NEWS: Inmarsat Confirms Discussing USD7.21 Per Share Cash Offer

LONDON (Alliance News) - Satellite operator Inmarsat PLC confirmed after the market close Tuesday it had received a non-binding offer from a consortium of firms in late January, valuing the firm -

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18 Mar 2019 15:56

Nomura International Now Holds 5.03% Stake In Inmarsat (ALLISS)

LONDON (Alliance News) - Inmarsat PLC on Monday said that Nomura International PLC now holds a 5.0% interest in the company.Nomura's interest in the satellite telecommunications firm to

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18 Mar 2019 13:37

Monday broker round-up

(Sharecast News) - IWG: RBC Capital Markets upgrades to sector perform with a target price of 260p.

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7 Mar 2019 09:20

Inmarsat Revenue Rises 6% But Annual Profit Hit By Impairment Charges

LONDON (Alliance News) - Inmarsat PLC on Thursday reported good annual revenue growth on the back of a strong performance by its Aviation division, but annual profit dropped on the prior 2018, the

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7 Mar 2019 08:50

Inmarsat profits drop as costs outweigh revenue gains

(Sharecast News) - Inmarsat's annual profits faltered in 2018 as mounting costs offset revenue growth, which was driven by its global GX broadband offering.

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28 Feb 2019 17:58

PRESS: Inmarsat Rises On Potenial EchoStar Bid Interest - Reuters

LONDON (Alliance News) - Shares in satellite communications firm Inmarsat PLC on Thursday ended as the best performer in the FTSE 250, after Reuters reported US rival EchoStar Corp is planning a a

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28 Feb 2019 17:23

LONDON MARKET CLOSE: Mondi, Rolls-Royce, RSA Send FTSE 100 Lower

LONDON (Alliance News) - Stocks in London ended mixed on Thursday on a busy day on the UK corporate earnings front, with Mondi, Rolls-Royce and RSA on the

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28 Feb 2019 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 1 March  Rightmove Full Year ResultsWilliam HillFull Year Year Fund Year

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28 Feb 2019 15:43

Inmarsat surges on report of renewed EchoStar interest

(Sharecast News) - Shares in Inmarsat rallied on Thursday after CTFN cited a senior executive in the sector as saying that US rival EchoStar may renew its interest in the satellite communications company soon and no later than the next six months.

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