K.J. Harrison & Partners Inc Purchases 12,000 Shares of Telesat Corporation $TSAT

K.J. Harrison & Partners Inc boosted its position in Telesat Corporation (NASDAQ:TSAT) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 70,000 shares of the company’s stock after purchasing an additional 12,000 shares during the period. K.J. Harrison & Partners Inc owned about 0.49% of Telesat worth $2,021,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its holdings in shares of Telesat by 4.5% in the 3rd quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after buying an additional 1,280 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after acquiring an additional 2,473 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Telesat by 1,335.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after acquiring an additional 3,552 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Telesat by 30.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 20,882 shares of the company’s stock worth $586,000 after acquiring an additional 4,901 shares during the period. Finally, Quarry LP bought a new position in shares of Telesat during the 3rd quarter worth $212,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Telesat from $19.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, March 19th. Zacks Research raised shares of Telesat from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Telesat Stock Up 2.8%

Shares of NASDAQ:TSAT opened at $49.12 on Thursday. The firm has a fifty day moving average price of $40.60 and a two-hundred day moving average price of $33.03. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.25 and a quick ratio of 0.25. Telesat Corporation has a one year low of $14.77 and a one year high of $55.69. The company has a market cap of $729.14 million, a price-to-earnings ratio of -5.45 and a beta of 2.02.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 3.82%. The firm had revenue of $62.59 million during the quarter, compared to the consensus estimate of $62.03 million. Analysts anticipate that Telesat Corporation will post -0.2 EPS for the current fiscal year.

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.