Telesat (NASDAQ:TSAT – Get Free Report) was upgraded by equities researchers at New Street Research to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. Wall Street Zen lowered Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Finally, Zacks Research raised Telesat from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.50.
Read Our Latest Report on Telesat
Telesat Stock Performance
Telesat (NASDAQ:TSAT – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The business had revenue of $62.59 million during the quarter, compared to the consensus estimate of $62.03 million. Equities research analysts anticipate that Telesat will post -3.73 earnings per share for the current year.
Institutional Investors Weigh In On Telesat
A number of institutional investors have recently modified their holdings of TSAT. PenderFund Capital Management Ltd. increased its position in shares of Telesat by 307.3% during the third quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock worth $10,512,000 after buying an additional 309,153 shares during the period. Senvest Management LLC raised its stake in Telesat by 261.5% during the fourth quarter. Senvest Management LLC now owns 134,668 shares of the company’s stock worth $3,919,000 after buying an additional 97,411 shares during the last quarter. Millennium Management LLC lifted its holdings in Telesat by 245.4% in the fourth quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock valued at $3,739,000 after buying an additional 91,272 shares during the period. Vestcor Inc boosted its position in Telesat by 40.0% during the third quarter. Vestcor Inc now owns 175,000 shares of the company’s stock valued at $4,638,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in Telesat by 83.0% during the third quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock valued at $2,779,000 after acquiring an additional 47,725 shares during the last quarter.
Telesat Company Profile
Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.
In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.
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