Telesat (NASDAQ:TSAT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Telesat (NASDAQ:TSAT) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. Wall Street Zen downgraded Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.00.

Telesat Trading Down 1.7%

Telesat stock opened at $47.79 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $40.23 and its two-hundred day simple moving average is $32.91. Telesat has a 12 month low of $14.77 and a 12 month high of $55.69. The company has a market capitalization of $709.20 million, a price-to-earnings ratio of -6.32 and a beta of 2.02.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.08. The firm had revenue of $68.48 million for the quarter, compared to the consensus estimate of $91.95 million. Telesat had a negative return on equity of 1.10% and a negative net margin of 37.25%. As a group, equities analysts predict that Telesat will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Telesat

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Telesat in the fourth quarter worth about $211,000. XTX Topco Ltd purchased a new stake in Telesat in the fourth quarter worth about $286,000. Quadrature Capital Ltd purchased a new stake in Telesat in the fourth quarter worth about $602,000. Millennium Management LLC increased its position in Telesat by 245.4% in the fourth 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 in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Telesat in the fourth quarter worth about $1,208,000.

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.