Telesat (NASDAQ:TSAT) Stock Jumps 4.7% – Still a Buy?

Telesat Corporation (NASDAQ:TSAT)’s share price traded up 4.7% during trading on Monday. The stock traded as high as $45.92 and last traded at $44.5550. 31,839 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 209,211 shares. The stock had previously closed at $42.55.

Analyst Ratings Changes

Several research firms have recently weighed in on TSAT. Zacks Research upgraded shares of Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Scotiabank began coverage on shares of Telesat in a report on Monday, July 13th. They issued a “hold” rating on the stock. Stifel Nicolaus initiated coverage on shares of Telesat in a research note on Thursday, July 16th. They set a “buy” rating for the company. Canadian Imperial Bank of Commerce initiated coverage on shares of Telesat in a report on Sunday. They set a “sector outperform” rating for the company. Finally, Royal Bank Of Canada started coverage on shares of Telesat in a report on Thursday, August 27th. They set a “moderate buy” rating for the company. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Telesat Trading Up 5.4%

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.90. The firm has a market cap of $682.74 million, a price-to-earnings ratio of -2.52 and a beta of 2.11. The company has a 50-day moving average price of $45.89 and a 200 day moving average price of $46.76.

Telesat (NASDAQ:TSAT) last issued 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). The firm had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. Telesat had a negative return on equity of 15.53% and a negative net margin of 102.62%. As a group, research analysts anticipate that Telesat Corporation will post -11.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telesat

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Telesat during the third quarter valued at approximately $34,000. Allied Private Wealth LLC acquired a new stake in shares of Telesat in the second quarter worth $51,000. Royal Bank of Canada boosted its holdings in shares of Telesat by 100.2% during the 1st quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock worth $212,000 after buying an additional 2,928 shares during the period. Militia Capital Management LLC bought a new stake in shares of Telesat during the 1st quarter worth $560,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Telesat during the 2nd quarter worth $591,000.

Telesat Company Profile

Telesat is a Canadian satellite communications operator that provides connectivity and related services to telecommunications companies, broadcasters, governments, enterprises and other organizations worldwide. The company operates a fleet of geostationary satellites and delivers satellite capacity for broadband communications, video distribution, enterprise networking, mobility and government applications.

In addition to its geostationary satellite services, Telesat is developing Telesat Lightspeed, a planned low Earth orbit satellite network designed to provide high-speed, low-latency broadband connectivity.