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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Inmarsat    ISAT   GB00B09LSH68

INMARSAT (ISAT)
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Inmarsat : shares in rocky trading as earnings fall

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11/10/2017 | 07:21am CEST

SHARES in British satellite firm Inmarsat plummeted yesterday after initially rocketing on third-quarter sales growth.

Revenue was up 4.8 per cent to $358.3m (£272m) over the last three months and 7.8 per cent higher at £1.05bn for the nine months to September.

Inmarsat's aviation division, which facilitates sky-high broadband access for airlines, was the firm's standout performer, jumping 50 per cent in the quarter and 43 per cent over the year to date to $144m of revenues.

After climbing as much as six per cent in opening trading, the shares subsequently flopped and fell more than seven per cent on Wednesday's closing price.

Maritime operations, the biggest of Inmarsat's divisions, posted static growth in the quarter and a slight contraction over the last nine months to $421.1m. Meanwhile, group earnings fell 6.5 per cent over the last three months to $191.3m.

Many of Inmarsat's European rivals have struggled in recent months and the Islington-headquartered firm has seen around 40 per cent wiped off its stock market since the end of March.

Yesterday, Inmarsat boss Rupert Pearce admitted that "our markets remain challenging and the outlook continues to be difficult to predict".

Pearce added: "We have continued to invest in this significant opportunity, and in our core operational capabilities, albeit at the expense of lower Ebitda (earnings before interest, taxation, depreciation and amortisation) margins, to ensure that we remain uniquely positioned as the leading operator in global mobility markets."

Both revenue and earnings were slightly ahead of consensus expectations according to UBS analyst Michael Hill.

(c) 2017 City A.M., source Newspaper

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Financials ($)
Sales 2018 1 451 M
EBIT 2018 288 M
Net income 2018 145 M
Debt 2018 1 876 M
Yield 2018 3,21%
P/E ratio 2018 18,72
P/E ratio 2019 35,97
EV / Sales 2018 3,48x
EV / Sales 2019 3,68x
Capitalization 3 178 M
Chart INMARSAT
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Technical analysis trends INMARSAT
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 7,50 $
Spread / Average Target 9,1%
EPS Revisions
Managers
NameTitle
Rupert Edward Pearce Chief Executive Officer & Executive Director
Andrew John Sukawaty Non-Executive Chairman
Jason Smith Chief Operations Officer
Antony Jeffrey Bates Chief Financial Officer & Executive Director
Peter Hadinger Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
INMARSAT11.86%3 178
SES36.82%9 334
EUTELSAT COMMUNICATIONS6.61%5 456
IRIDIUM COMMUNICATIONS INC67.37%2 160
SPEEDCAST INTERNATIONAL LTD21.64%1 129
THAICOM PCL--.--%302