PanAmSat's Missed Quarter Is a Buying Opportunity
Shortfall gives long-term investors a chance to buy in.
PanAmSat (SPOT) announced Tuesday that it missed third-quarter revenue and earnings targets because of a one-time customer payment of $15 million associated with the termination of a direct-to-home video services agreement in India.
What It Means for Investors
We think that the missed quarter is not as negative as it may seem for the stock, which is already down about 51% for the year, and that this represents a buying opportunity for long-term investors.
Richard Wilson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.