26,423 Telesat Corporation $TSAT Shares Sold by CenterBook Partners LP

CenterBook Partners LP trimmed its position in shares of Telesat Corporation (NASDAQ:TSAT) by 37.0% during the third quarter, HoldingsChannel reports. The fund owned 45,077 shares of the company’s stock after selling 26,423 shares during the quarter. CenterBook Partners LP’s holdings in Telesat were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Telesat in the 3rd quarter valued at approximately $34,000. Allied Private Wealth LLC acquired a new position in Telesat during the 2nd quarter worth approximately $51,000. Royal Bank of Canada raised its stake in shares of Telesat by 100.2% during the 1st quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock worth $212,000 after buying an additional 2,928 shares in the last quarter. Senvest Management LLC raised its stake in shares of Telesat by 2.2% during the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock worth $4,984,000 after buying an additional 3,000 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Telesat by 18.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company’s stock worth $2,938,000 after buying an additional 9,653 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSAT. Wall Street Zen upgraded Telesat from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st. Stifel Nicolaus initiated coverage on Telesat in a research report on Thursday, July 16th. They issued a “buy” rating for the company. Canadian Imperial Bank of Commerce began coverage on Telesat in a report on Sunday, October 25th. They issued a “sector outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a research report on Monday, September 14th. Finally, Royal Bank Of Canada initiated coverage on shares of Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.50.

Telesat Stock Performance

Shares of Telesat stock opened at $41.79 on Monday. Telesat Corporation has a 12-month low of $23.01 and a 12-month high of $61.54. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.26. The stock has a market cap of $636.04 million, a PE ratio of -2.27 and a beta of 2.12. The company has a 50-day moving average of $45.21 and a two-hundred day moving average of $42.78.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($7.14). The company had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. Telesat had a negative net margin of 112.44% and a negative return on equity of 14.92%. On average, research analysts anticipate that Telesat Corporation will post -13.31 EPS for the current fiscal year.

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.