Telesat (NASDAQ:TSAT) Stock Price Up 11.9% – Should You Buy?

Telesat Corporation (NASDAQ:TSAT) shares rose 11.9% on Thursday . The company traded as high as $52.08 and last traded at $52.3730. Approximately 210,593 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 194,160 shares. The stock had previously closed at $46.79.

Wall Street Analyst Weigh In

TSAT has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Telesat from $19.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, March 19th. Zacks Research lowered shares of Telesat from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, New Street Research initiated coverage on shares of Telesat in a report on Wednesday, May 13th. They set a “sell” rating and a $30.00 price target for the company. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $33.50.

Telesat Trading Down 19.0%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s 50-day simple moving average is $48.23 and its 200-day simple moving average is $36.68. The firm has a market capitalization of $661.45 million, a PE ratio of -4.94 and a beta of 2.01.

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

Institutional Trading of Telesat

A number of hedge funds and other institutional investors have recently modified their holdings of TSAT. Acadian Asset Management LLC grew its position in shares of Telesat by 63.3% in the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after buying an additional 2,473 shares during the period. Jump Financial LLC purchased a new stake in shares of Telesat in the 2nd quarter worth about $449,000. Bank of America Corp DE grew its position in shares of Telesat by 264.3% in the 2nd quarter. Bank of America Corp DE now owns 56,401 shares of the company’s stock worth $1,378,000 after buying an additional 40,919 shares during the period. Penserra Capital Management LLC grew its position in shares of Telesat by 4.5% in the 3rd quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after buying an additional 1,280 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Telesat by 189.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock worth $422,000 after buying an additional 10,428 shares during the period.

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.