Telesat Corporation (NASDAQ:TSAT) Receives $33.50 Consensus Target Price from Brokerages

Shares of Telesat Corporation (NASDAQ:TSAT) have been assigned an average rating of “Reduce” from the seven research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $33.50.

TSAT has been the topic of several research reports. Stifel Nicolaus started coverage on shares of Telesat in a report on Thursday, July 16th. They set a “buy” rating on the stock. Royal Bank Of Canada began coverage on shares of Telesat in a report on Thursday, August 27th. They set a “moderate buy” rating for the company. Zacks Research downgraded shares of Telesat from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a report on Thursday, June 18th. Finally, Scotiabank began coverage on shares of Telesat in a research report on Monday, July 13th. They issued a “hold” rating on the stock.

Telesat Stock Performance

NASDAQ TSAT opened at $44.90 on Tuesday. The company has a market cap of $666.32 million, a price-to-earnings ratio of -2.51 and a beta of 2.06. Telesat has a 52 week low of $20.81 and a 52 week high of $61.54. The business has a 50 day moving average price of $44.49 and a 200-day moving average price of $44.07. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.90.

Telesat (NASDAQ:TSAT) last issued its earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($7.14). Telesat had a negative return on equity of 15.53% and a negative net margin of 102.62%.The firm had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. As a group, equities analysts expect that Telesat will post -11.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Telesat by 32.2% during the fourth quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock worth $85,000 after buying an additional 712 shares in the last quarter. Allied Private Wealth LLC purchased a new position in Telesat during the 2nd quarter worth $51,000. Acadian Asset Management LLC boosted its holdings in Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after acquiring an additional 2,473 shares during the last quarter. Senvest Management LLC grew its stake in shares of Telesat by 2.2% in the 1st 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Telesat by 1,335.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after acquiring an additional 3,552 shares in 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.