Inmarsat (LON:ISAT) had its target price decreased by Credit Suisse Group from GBX 810 ($11.37) to GBX 610 ($8.56) in a research note released on Wednesday morning. Credit Suisse Group currently has an outperform rating on the stock.
Several other equities analysts have also recently weighed in on ISAT. Royal Bank of Canada reaffirmed an outperform rating and issued a GBX 825 ($11.58) price objective on shares of Inmarsat in a report on Friday, January 12th. Numis Securities reaffirmed a sell rating and issued a GBX 400 ($5.61) price objective on shares of Inmarsat in a report on Wednesday, March 7th. Morgan Stanley dropped their price objective on Inmarsat from GBX 620 ($8.70) to GBX 550 ($7.72) and set an equal weight rating for the company in a report on Thursday, February 22nd. Deutsche Bank reaffirmed a buy rating and issued a GBX 850 ($11.93) price objective on shares of Inmarsat in a report on Friday, January 5th. Finally, Barclays dropped their price objective on Inmarsat from GBX 600 ($8.42) to GBX 570 ($8.00) and set an equal weight rating for the company in a report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Inmarsat has a consensus rating of Hold and an average target price of GBX 580.28 ($8.15).
Shares of LON ISAT opened at GBX 355.90 ($5.00) on Wednesday. Inmarsat has a 12 month low of GBX 381.20 ($5.35) and a 12 month high of GBX 865 ($12.14).
The firm also recently declared a dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, April 19th will be paid a $0.12 dividend. The ex-dividend date is Thursday, April 19th. This represents a dividend yield of 2.15%.
In related news, insider Tony Bates sold 13,684 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of GBX 349 ($4.90), for a total transaction of £47,757.16 ($67,037.00).
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Inmarsat plc is a United Kingdom-based provider of global mobile satellite communications services. The Company’s segments include Maritime, Government, Enterprise, Aviation and Central Services. The Maritime segment focuses on commercial maritime services across the world. The Maritime segment includes the provision of broadband data and safety communications for all vessel sizes.
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