Telesat Corporation (NASDAQ:TSAT) Receives Consensus Rating of “Reduce” from Analysts

Shares of Telesat Corporation (NASDAQ:TSAT) have been given a consensus rating of “Reduce” by the six research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.50.

Several research firms have recently weighed in on TSAT. Zacks Research downgraded shares of Telesat from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen cut shares of Telesat from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 25th. Stifel Nicolaus began coverage on shares of Telesat in a report on Thursday, July 16th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research note on Thursday, June 18th. Finally, New Street Research began coverage on shares of Telesat in a report on Wednesday, May 13th. They set a “sell” rating and a $30.00 target price on the stock.

Telesat Stock Up 5.5%

TSAT stock opened at $54.08 on Friday. The stock has a fifty day moving average of $43.95 and a 200-day moving average of $41.08. Telesat has a fifty-two week low of $19.59 and a fifty-two week high of $59.12. The company has a market capitalization of $802.55 million, a price-to-earnings ratio of -6.00 and a beta of 2.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.25.

Telesat (NASDAQ:TSAT) last announced 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). The firm had revenue of $62.62 million during the quarter, compared to the consensus estimate of $62.03 million. Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. As a group, equities research analysts predict that Telesat will post -4.01 earnings per share for the current year.

Institutional Trading of Telesat

A number of hedge funds and other institutional investors have recently made changes to their positions in TSAT. Allied Private Wealth LLC purchased a new stake in Telesat during the 2nd quarter worth about $51,000. Royal Bank of Canada increased its position in shares of Telesat by 32.2% during the fourth quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock valued at $85,000 after buying an additional 712 shares during the period. BNP Paribas Financial Markets increased its position in shares of Telesat by 1,335.3% during the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after buying an additional 3,552 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after buying an additional 2,473 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Telesat in the fourth quarter valued at approximately $211,000.

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.