Desjardins Begins Coverage on Telesat (NASDAQ:TSAT)

Research analysts at Desjardins began coverage on shares of Telesat (NASDAQ:TSAT) in a report released on Wednesday, Briefing.com reports. The firm set a “buy” rating on the stock.

Other research analysts have also recently issued research reports about the company. Scotiabank began coverage on Telesat in a research note on Monday, July 13th. They issued a “hold” rating on the stock. Wall Street Zen upgraded Telesat from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a research note on Monday, September 14th. Zacks Research upgraded Telesat from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Telesat in a research report on Sunday, October 25th. They issued a “sector outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Telesat Stock Performance

Shares of TSAT stock opened at $40.30 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.26 and a quick ratio of 0.26. The company’s fifty day moving average price is $45.44 and its two-hundred day moving average price is $42.71. The firm has a market capitalization of $613.37 million, a P/E ratio of -2.19 and a beta of 2.12. Telesat has a 12 month low of $23.01 and a 12 month high of $61.54.

Telesat (NASDAQ:TSAT) last announced 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 112.44% and a negative return on equity of 14.92%. The business had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. On average, research analysts anticipate that Telesat will post -12.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in shares of Telesat in the 3rd quarter worth about $34,000. Allied Private Wealth LLC acquired a new stake in shares of Telesat in the 2nd quarter valued at about $51,000. Royal Bank of Canada lifted its position in shares of Telesat by 100.2% during the first quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock worth $212,000 after purchasing an additional 2,928 shares during the last quarter. Senvest Management LLC lifted its position in shares of Telesat by 2.2% during the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock worth $4,984,000 after purchasing an additional 3,000 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted 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 purchasing an additional 9,653 shares during the last quarter.

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.