Eutelsat shares fall after slight revenue miss, pressures in U.S., Russia biz

Shares of French satellite company Eutelsat ETL.PA fall about 6.2% after a mixed Q3 publication including slight revenue miss and a drop in contract renewals rate

Analysts point out Eutelsat's Q3 revenues of 300 million euros ($335.97 million), which slightly missed the company-compiled consensus of 302 million euros, and a contract renewal rate of 50%, lower than previous quarters

Bernstein analyst, who sees Friday's price drop as an overreaction, flags low renewals of DoD contracts due to U.S. budget pressures and impact from Russian channels woes, expecting a 1.3% hit to next year's revenue

The stock pares earlier losses of as much as 11%

Deutsche Bank also flags a 3% revenue miss vs consensus in the government biz

Up until Thursday's close, Eutelsat shares gained about 73.3% YTD

At some point in March, they saw an over 600% rise in value in an unexpected rally before normalizing

($1 = 0.8929 euros)