Telesat (NASDAQ:TSAT – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.
Several other research analysts have also commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Telesat in a research report on Monday, September 14th. Stifel Nicolaus started coverage on Telesat in a research note on Thursday, July 16th. They set a “buy” rating on the stock. Royal Bank Of Canada assumed coverage on Telesat in a research report on Thursday, August 27th. They issued a “moderate buy” rating for the company. Finally, Scotiabank initiated coverage on Telesat in a research note on Monday, July 13th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.50.
View Our Latest Research Report on Telesat
Telesat Stock Performance
Shares of TSAT stock opened at $40.86 on Monday. The company’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $46.74. Telesat has a 52 week low of $23.01 and a 52 week high of $61.54. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.90. The company has a market cap of $621.89 million, a PE ratio of -2.28 and a beta of 2.11.
Telesat (NASDAQ:TSAT – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($7.14). Telesat had a negative net margin of 102.62% and a negative return on equity of 15.53%. The business had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. As a group, equities research analysts anticipate that Telesat will post -11.93 EPS for the current year.
Hedge Funds Weigh In On Telesat
Institutional investors have recently made changes to their positions in the business. Senvest Management LLC boosted its stake in shares of Telesat by 2.2% during the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after buying an additional 3,000 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Telesat by 18.0% during the third quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company’s stock worth $2,938,000 after buying an additional 9,653 shares in the last quarter. Walleye Capital LLC grew its position in shares of Telesat by 210.1% during the first quarter. Walleye Capital LLC now owns 57,017 shares of the company’s stock worth $2,064,000 after buying an additional 38,630 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Telesat by 72.5% in the first 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 last quarter. Finally, Van Berkom & Associates Inc. bought a new stake in shares of Telesat in the first quarter worth $991,000.
About Telesat
Telesat is a Canadian satellite operator that provides communications services to customers worldwide. Founded in 1969 and headquartered in Ottawa, Ontario, the company operates a fleet of geostationary satellites and related ground infrastructure designed to support broadband connectivity, broadcasting, enterprise communications, mobility and government applications.
Telesat serves telecommunications companies, broadcasters, content providers, governments and other organizations across North America and international markets.
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