Van Berkom & Associates Inc. Takes $991,000 Position in Telesat Corporation $TSAT

Van Berkom & Associates Inc. acquired a new position in Telesat Corporation (NASDAQ:TSAT) during the first quarter, HoldingsChannel.com reports. The fund acquired 27,492 shares of the company’s stock, valued at approximately $991,000.

A number of other large investors also recently modified their holdings of TSAT. Gamco Investors INC. ET AL increased its position in shares of Telesat by 2.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock valued at $53,302,000 after acquiring an additional 44,785 shares during the last quarter. K.J. Harrison & Partners Inc increased its position in shares of Telesat by 20.7% during the 4th quarter. K.J. Harrison & Partners Inc now owns 70,000 shares of the company’s stock worth $2,021,000 after purchasing an additional 12,000 shares during the last quarter. Vestcor Inc increased its position in shares of Telesat by 14.3% during the 4th quarter. Vestcor Inc now owns 200,000 shares of the company’s stock worth $5,820,000 after purchasing an additional 25,000 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Telesat by 30.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 20,882 shares of the company’s stock worth $586,000 after purchasing an additional 4,901 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Telesat in the 4th quarter valued at approximately $1,246,000.

Telesat Price Performance

TSAT stock opened at $36.38 on Monday. The business has a 50-day simple moving average of $47.51 and a 200 day simple moving average of $40.13. Telesat Corporation has a 52 week low of $19.59 and a 52 week high of $59.12. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.77. The company has a market cap of $539.88 million, a PE ratio of -4.03 and a beta of 2.03.

Telesat (NASDAQ:TSAT) last posted its quarterly 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 firm had revenue of $62.62 million for the quarter, compared to analyst estimates of $62.03 million. Sell-side analysts anticipate that Telesat Corporation will post -4.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Telesat in a report on Thursday. They set a “buy” rating on the stock. Wall Street Zen downgraded shares of Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Scotiabank assumed coverage on shares of Telesat in a research note on Monday, July 13th. They set a “hold” rating on the stock. New Street Research initiated coverage on Telesat in a research note on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price objective on the stock. Finally, Zacks Research cut shares of Telesat from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $33.50.

Telesat 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.