Stifel Nicolaus Initiates Coverage on Telesat (NASDAQ:TSAT)

Equities researchers at Stifel Nicolaus started coverage on shares of Telesat (NASDAQ:TSAT) in a research note issued on Thursday. The firm set a “buy” rating on the stock.

A number of other analysts also recently issued reports on TSAT. Wall Street Zen downgraded shares of Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research note on Thursday, June 18th. New Street Research started coverage on shares of Telesat in a research note on Wednesday, May 13th. They issued a “sell” rating and a $30.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, March 19th. Finally, Scotiabank initiated coverage on shares of Telesat in a research report on Monday. They set a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Telesat presently has a consensus rating of “Reduce” and an average target price of $33.50.

Telesat Stock Performance

Telesat stock opened at $37.92 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $562.88 million, a P/E ratio of -4.20 and a beta of 2.03. The stock has a fifty day moving average price of $48.17 and a 200 day moving average price of $40.03. Telesat has a 52 week low of $19.59 and a 52 week high of $59.12.

Telesat (NASDAQ:TSAT) last released its earnings results on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($1.54). Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%.The company had revenue of $62.62 million during the quarter, compared to analyst estimates of $62.03 million. Equities research analysts anticipate that Telesat will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TSAT. Gamco Investors INC. ET AL increased its stake in Telesat by 2.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock worth $53,302,000 after buying an additional 44,785 shares during the period. PenderFund Capital Management Ltd. grew its stake in shares of Telesat by 307.3% during the third quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock valued at $10,512,000 after acquiring an additional 309,153 shares in the last quarter. Vestcor Inc grew its stake in shares of Telesat by 14.3% during the fourth quarter. Vestcor Inc now owns 200,000 shares of the company’s stock valued at $5,820,000 after acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC grew its stake in shares of Telesat by 2.2% during the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Telesat by 245.4% during the fourth quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock worth $3,739,000 after acquiring an additional 91,272 shares during the last quarter.

About Telesat

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.