Telesat (NASDAQ:TSAT) Upgraded by New Street Research to “Strong Sell” Rating

New Street Research upgraded shares of Telesat (NASDAQ:TSAT) to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

Several other brokerages also recently commented on TSAT. Weiss Ratings reiterated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, March 19th. Wall Street Zen cut shares of Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded shares of Telesat from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.50.

Telesat Stock Up 0.5%

Telesat stock opened at $53.91 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.25 and a quick ratio of 0.25. The company’s 50-day moving average is $43.15 and its 200-day moving average is $33.97. The firm has a market capitalization of $800.02 million, a PE ratio of -5.98 and a beta of 2.02. Telesat has a fifty-two week low of $15.42 and a fifty-two week high of $55.83.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($2.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). The business had revenue of $62.59 million for the quarter, compared to the consensus estimate of $62.03 million. Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%. Sell-side analysts anticipate that Telesat will post -3.73 earnings per share for the current year.

Institutional Trading of Telesat

Several hedge funds have recently added to or reduced their stakes in TSAT. K.J. Harrison & Partners Inc boosted its stake in Telesat by 128.3% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 58,000 shares of the company’s stock valued at $1,609,000 after purchasing an additional 32,600 shares during the period. Vestcor Inc lifted its holdings in shares of Telesat by 40.0% during the third quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after buying an additional 50,000 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of Telesat by 83.0% in the third quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock valued at $2,779,000 after acquiring an additional 47,725 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Telesat in the fourth quarter valued at about $1,208,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in shares of Telesat by 19.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 24,668 shares of the company’s stock valued at $680,000 after acquiring an additional 4,000 shares in the last quarter.

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.