Telesat (NASDAQ:TSAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Telesat (NASDAQ:TSAT) from a strong sell rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a research note on Monday, September 14th. Scotiabank assumed coverage on shares of Telesat in a report on Monday, July 13th. They set a “hold” rating on the stock. Stifel Nicolaus assumed coverage on shares of Telesat in a research note on Thursday, July 16th. They issued a “buy” rating for the company. Zacks Research upgraded shares of Telesat from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Finally, Canadian Imperial Bank of Commerce started coverage on shares of Telesat in a research report on Sunday, October 25th. They set a “sector outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Telesat currently has an average rating of “Hold” and an average target price of $33.50.

Telesat Price Performance

Shares of NASDAQ:TSAT opened at $37.35 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.90. Telesat has a 1 year low of $23.01 and a 1 year high of $61.54. The business has a fifty day simple moving average of $45.48 and a 200 day simple moving average of $42.67. The firm has a market cap of $568.47 million, a price-to-earnings ratio of -2.03 and a beta of 2.11.

Telesat (NASDAQ:TSAT) last issued its earnings results on Thursday, August 13th. The company reported ($7.85) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $57.30 million during the quarter, compared to analysts’ expectations of $56.11 million. As a group, sell-side analysts predict that Telesat will post -11.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telesat

Several large investors have recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. acquired a new position in shares of Telesat in the first quarter valued at $991,000. TD Waterhouse Canada Inc. lifted its position in Telesat by 127.3% in the second quarter. TD Waterhouse Canada Inc. now owns 53,708 shares of the company’s stock worth $2,516,000 after purchasing an additional 30,076 shares during the period. Engineers Gate Manager LP bought a new stake in Telesat in the 2nd quarter valued at $591,000. Walleye Capital LLC increased its holdings in Telesat by 210.1% in the 1st quarter. Walleye Capital LLC now owns 57,017 shares of the company’s stock valued at $2,064,000 after buying an additional 38,630 shares during the period. Finally, Militia Capital Management LLC acquired a new position in shares of Telesat in the 1st quarter valued at $560,000.

About Telesat

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.