Telesat Corporation (NASDAQ:TSAT) Stock Rated “Hold” by Wall Street Brokerages

Telesat Corporation (NASDAQ:TSAT) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.50.

Several research analysts have weighed in on the company. Desjardins initiated coverage on Telesat in a research report on Wednesday, November 4th. They set a “buy” rating on the stock. Royal Bank Of Canada began coverage on shares of Telesat in a research report on Thursday, August 27th. They issued a “moderate buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a research note on Monday, September 14th. Zacks Research raised shares of Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Wall Street Zen upgraded shares of Telesat from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in Telesat in the third quarter valued at approximately $34,000. Allied Private Wealth LLC bought a new stake in Telesat during the second quarter worth $51,000. Pathstone Holdings LLC lifted its stake in Telesat by 16.4% during the third quarter. Pathstone Holdings LLC now owns 8,171 shares of the company’s stock worth $377,000 after purchasing an additional 1,152 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Telesat by 100.2% in the 1st quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock valued at $212,000 after purchasing an additional 2,928 shares in the last quarter. Finally, Senvest Management LLC boosted its holdings in shares of Telesat by 2.2% in the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after purchasing an additional 3,000 shares in the last quarter.

Telesat Stock Performance

NASDAQ:TSAT traded down $0.10 during mid-day trading on Friday, hitting $45.29. 111,161 shares of the stock were exchanged, compared to its average volume of 243,722. The firm’s 50-day simple moving average is $45.50 and its 200 day simple moving average is $43.22. The stock has a market capitalization of $689.31 million, a price-to-earnings ratio of -2.47 and a beta of 2.12. Telesat has a fifty-two week low of $23.01 and a fifty-two week high of $61.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.26 and a current ratio of 0.26.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data 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 112.44% and a negative return on equity of 14.92%. The firm had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. As a group, equities analysts anticipate that Telesat will post -12.93 EPS for the current fiscal year.

Telesat Company Profile

Telesat is a Canadian satellite communications company that provides connectivity services to customers including telecommunications providers, broadcasters, governments and businesses. Its services support applications such as broadband access, video distribution and communications for customers operating in remote or mobile environments. Founded in 1969 and headquartered in Ottawa, Telesat serves customers around the world through its satellite network and related ground infrastructure. The company operates geostationary satellites and is developing Telesat Lightspeed, a low Earth orbit satellite network intended to provide high-speed, low-latency connectivity.