Telesat Corporation (NASDAQ:TSAT – Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $42.87 and traded as high as $46.44. Telesat shares last traded at $45.30, with a volume of 251,229 shares.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on TSAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Telesat in a research note on Monday, September 14th. Royal Bank Of Canada started coverage on Telesat in a research note on Thursday, August 27th. They issued a “moderate buy” rating for the company. Canadian Imperial Bank of Commerce started coverage on Telesat in a research report on Sunday, October 25th. They set a “sector outperform” rating for the company. Zacks Research raised shares of Telesat from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Wall Street Zen upgraded shares of Telesat from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.50.
View Our Latest Stock Analysis on Telesat
Telesat Price Performance
The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $736.65 million, a price-to-earnings ratio of -2.63 and a beta of 2.12. The company’s 50 day moving average is $45.43 and its 200-day moving average is $43.05.
Telesat (NASDAQ:TSAT – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($7.14). Telesat had a negative return on equity of 14.92% and a negative net margin of 112.44%. The company had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. Equities research analysts anticipate that Telesat Corporation will post -12.93 earnings per share for the current year.
Institutional Trading of Telesat
Several institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Telesat during the 3rd quarter valued at approximately $34,000. Allied Private Wealth LLC purchased a new stake in shares of Telesat during the second quarter worth approximately $51,000. Royal Bank of Canada raised its holdings in shares of Telesat by 100.2% in the 1st quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock valued at $212,000 after purchasing an additional 2,928 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Telesat during the 3rd quarter worth about $277,000. Finally, Militia Capital Management LLC acquired a new position in Telesat in the first quarter valued at approximately $560,000.
About Telesat
Telesat is a Canadian satellite communications company that provides connectivity services to customers including telecommunications providers, broadcasters, governments and businesses. Its services support applications such as broadband access, video distribution and communications for customers operating in remote or mobile environments. Founded in 1969 and headquartered in Ottawa, Telesat serves customers around the world through its satellite network and related ground infrastructure. The company operates geostationary satellites and is developing Telesat Lightspeed, a low Earth orbit satellite network intended to provide high-speed, low-latency connectivity.
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