Telesat (NASDAQ:TSAT) Trading 9.5% Higher – Should You Buy?

Telesat Corporation (NASDAQ:TSAT)’s stock price traded up 9.5% on Thursday . The stock traded as high as $47.79 and last traded at $48.0460. 159,917 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 210,552 shares. The stock had previously closed at $43.89.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. New Street Research assumed coverage on shares of Telesat in a research note on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price target on the stock. Zacks Research downgraded shares of Telesat from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Telesat from $19.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen cut shares of Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $33.50.

Telesat Stock Down 6.4%

The business’s 50 day moving average is $49.23 and its 200-day moving average is $37.45. 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 has a market cap of $696.14 million, a PE ratio of -5.20 and a beta of 2.01.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings results 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). Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%.The firm had revenue of $62.59 million during the quarter, compared to analysts’ expectations of $62.03 million. As a group, analysts predict that Telesat Corporation will post -3.73 EPS for the current year.

Institutional Inflows and Outflows

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