Telesat Corporation (NASDAQ:TSAT) Stock Has Consensus Price Target of $33.50 According to Analysts

Shares of Telesat Corporation (NASDAQ:TSAT – Get Free Report) have received a consensus recommendation of “Reduce” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $33.50.

A number of equities analysts have recently weighed in on TSAT shares. Royal Bank Of Canada assumed coverage on Telesat in a report on Thursday, August 27th. They issued a “moderate buy” rating on the stock. Stifel Nicolaus began coverage on shares of Telesat in a research report on Thursday, July 16th. They set a “buy” rating on the stock. Scotiabank began coverage on shares of Telesat in a research note on Monday, July 13th. They set a “hold” rating for the company. Zacks Research lowered Telesat from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Telesat in a research report on Monday, September 14th.

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Allied Private Wealth LLC bought a new position in shares of Telesat during the 2nd quarter valued at $51,000. Royal Bank of Canada grew its holdings in Telesat by 100.2% during the first 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 during the last quarter. Senvest Management LLC grew its holdings in Telesat by 2.2% during the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after purchasing an additional 3,000 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Telesat in the second quarter worth $591,000. Finally, Bank of America Corp DE boosted its holdings in shares of Telesat by 72.5% during the 1st quarter. Bank of America Corp DE now owns 34,794 shares of the company’s stock worth $1,260,000 after buying an additional 14,626 shares during the period.

Telesat Price Performance

TSAT opened at $48.21 on Friday. The stock has a fifty day moving average of $46.16 and a 200-day moving average of $45.64. The firm has a market capitalization of $715.44 million, a P/E ratio of -2.69 and a beta of 2.06. Telesat has a 12-month low of $23.01 and a 12-month high of $61.54. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.90.

Telesat (NASDAQ:TSAT – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($7.14). The business had revenue of $57.30 million for the quarter, compared to analysts’ expectations of $56.11 million. Telesat had a negative net margin of 102.62% and a negative return on equity of 15.53%. Equities analysts forecast that Telesat will post -11.93 EPS for the current fiscal year.

Telesat Company Profile

(Get Free Report)

Telesat is a Canadian satellite operator that provides communications services to customers worldwide. Founded in 1969 and headquartered in Ottawa, the company operates geostationary satellites under the Telstar brand and delivers connectivity for telecommunications companies, broadcasters, enterprises, governments and other institutional users.

The company’s services include satellite capacity, broadband connectivity, enterprise networking, video distribution and communications solutions for government and maritime customers.

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