Telesat (NASDAQ:TSAT) Research Coverage Started at Desjardins

Desjardins assumed coverage on shares of Telesat (NASDAQ:TSAT) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating on the stock.

A number of other brokerages also recently issued reports on TSAT. Royal Bank Of Canada began coverage on Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Zacks Research upgraded shares of Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Scotiabank initiated coverage on Telesat in a report on Monday, July 13th. They issued a “hold” rating for the company. Wall Street Zen upgraded shares of Telesat from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Telesat in a report on Monday, September 14th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.50.

Telesat Trading Up 12.4%

Telesat stock opened at $41.79 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $45.21 and a 200 day moving average price of $42.78. Telesat has a 52 week low of $23.01 and a 52 week high of $61.54. The company has a market capitalization of $636.04 million, a price-to-earnings ratio of -2.27 and a beta of 2.12.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($7.14). The firm had revenue of $57.30 million for the quarter, compared to the consensus estimate of $56.11 million. Telesat had a negative return on equity of 14.92% and a negative net margin of 112.44%. Sell-side analysts anticipate that Telesat will post -13.31 EPS for the current year.

Hedge Funds Weigh In On Telesat

Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in Telesat during the third quarter worth approximately $34,000. Allied Private Wealth LLC acquired a new position in shares of Telesat in the second quarter valued at $51,000. Royal Bank of Canada increased its stake in shares of Telesat by 100.2% in the first quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock valued at $212,000 after buying an additional 2,928 shares during the period. Engineers Gate Manager LP bought a new position in shares of Telesat in the second quarter worth $591,000. Finally, Militia Capital Management LLC purchased a new stake in Telesat in the first quarter worth about $560,000.

Telesat Company Profile

Telesat is a Canadian satellite communications operator that provides connectivity and related services to telecommunications companies, broadcasters, governments, enterprises and other organizations worldwide. The company operates a fleet of geostationary satellites and delivers satellite capacity for broadband communications, video distribution, enterprise networking, mobility and government applications.

In addition to its geostationary satellite services, Telesat is developing Telesat Lightspeed, a planned low Earth orbit satellite network designed to provide high-speed, low-latency broadband connectivity.