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LORL $41.52

LORL target price
41.52
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0
Loral Space & Communications
Type
Public
Traded as NASDAQ: LORL
Industry Communications, Space manufacturing
Founded 1996
Headquarters 600 Third Avenue
New York City, New York
Key people
Michael B. Targoff (CEO), Harvey Rein, Senior Vice President/CFO
Products Communications satellite Manufacturing, Satellite Services
Revenue $882M USD (FY 2007)
Number of employees
3,100
Website www.loral.com

Loral Space & Communications Inc. is a satellite communications company headed by Michael B. Targoff and incorporated in Delaware. The company was formed in 1996 from the remnants of Loral Corporation when Loral divested its defense electronics and system integration businesses to Lockheed Martin for $9.1 billion. In 2006, Bernard L. Schwartz retired after leading the company for many years.

Loral presently has an investment in Telesat Canada in partnership with the Public Sector Pension Investment Board of Canada. The company also participates in a number of international and domestic joint ventures, including an ownership stake in XTAR.

On March 20, 1998, Loral completed the acquisition of Orion Network Systems, Inc., through the exchange of common stock. The transaction was valued at approximately $479 million.

In January 2002, Loral reached a settlement with the U.S. Government in a case relating to the company’s involvement in the disclosure of information during a review of a Chinese rocket launch failure in 1996. Loral agreed to pay a civil fine of $14 million to the State Department without admitting or denying the government’s charges. According to a House Select Committee, Loral under CEO Schwartz provided the Chinese government with advice regarding a guidance system for future PRC road-mobile intercontinental ballistic missiles. The Defense Technology Security Administration concluded Loral "committed a serious export control violation" and that the "significant benefits derived by China from these activities are likely to lead to improvements in the overall reliability of their launch vehicles [i.e., rockets] and ballistic missiles and in particular their guidance systems." Loral paid a total fine of $20 million, the largest that a company has ever paid under the Arms Export Control Act.

On July 15, 2003, Loral and certain subsidiaries filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code. In conjunction with the filing, Loral announced the sale of its North American satellite fleet to Intelsat to help reduce its debt. Loral emerged from Chapter 11 on November 21, 2005.

On Feb 1, 2006, a subsidiary of Loral Space & Communications (Loral Skynet) began the construction of Telstar 11N, a powerful new multi-region Ku-band communications satellite.

On October 5, 2007, Loral Space & Communications Inc. and the Public Pension Investment Board of Canada received the final regulatory approval necessary to complete the acquisition of Telesat from BCE Inc. for CAD $3.25 billion. The acquisition closed on October 31, 2007. Loral hold a 64% economic interest and a 331/3% voting interest in Telesat Holdco, the ultimate parent company of the resulting new entity.

At the same time, Telesat Canada merged with Loral Skynet, a subsidiary of Loral Space & Communications. This resulted in the transfer of all of the assets of Loral Skynet to Telesat.

On November 2, 2012, Loral Space & Communications Inc. announced the sale of subsidiary Space Systems/Loral (SS/L), to MacDonald Dettwiler.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2021 2021-11-09 0.00 0.00
Q2 2021 2021-08-13 0.00 0.00
Q1 2021 2021-05-14 0.00 0.00
Q4 2020 2021-03-09 0.00 0.00
Q3 2020 2020-11-05 0.00 0.00
Q2 2020 2020-08-07 0.00 2.36
Q1 2020 2020-05-08 0.00 -3.92
Q4 2019 2020-03-12 0.00 0.22
Q3 2019 2019-11-12 0.00 0.20
Q2 2019 2019-08-06 0.00 1.23

Ratings

2007-04-19 Initiated Matrix Research Strong Buy
2007-04-19 Initiated Matrix Research Strong Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
RACHESKY MARK H MD 0.09%  (18222) EMIS / KEG / LEAP / LGF / LORL / NAV / TWI /
MASTOLONI RICHARD Sr. VP and Treasurer 0.07%  (15083) LORL /
Capogrossi John VP and Controller 0.04%  (7803) LORL /
REIN HARVEY B Sr. VP and CFO 0.03%  (7000) LORL /