Telesat (NASDAQ:TSAT) Raised to Strong Sell at New Street Research

Telesat (NASDAQ:TSAT) was upgraded by stock analysts at New Street Research to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on TSAT. Wall Street Zen lowered shares of Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, March 19th. Zacks Research upgraded shares of Telesat from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Telesat has a consensus rating of “Hold” and a consensus target price of $33.50.

Telesat Stock Performance

NASDAQ TSAT opened at $53.91 on Wednesday. The company has a 50-day simple moving average of $43.15 and a two-hundred day simple moving average of $33.97. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.77. Telesat has a 12-month low of $15.42 and a 12-month high of $55.83. The firm has a market cap of $800.02 million, a price-to-earnings ratio of -5.98 and a beta of 2.02.

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 net margin of 47.57% and a negative return on equity of 4.02%. The business had revenue of $62.59 million for the quarter, compared to analysts’ expectations of $62.03 million. On average, equities analysts forecast that Telesat will post -3.73 EPS for the current year.

Institutional Trading of Telesat

A number of institutional investors have recently modified their holdings of TSAT. Gamco Investors INC. ET AL increased its position in Telesat by 2.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock valued at $53,302,000 after purchasing an additional 44,785 shares during the period. PenderFund Capital Management Ltd. increased its position in Telesat by 307.3% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock valued at $10,512,000 after purchasing an additional 309,153 shares during the period. Vestcor Inc increased its position in Telesat by 14.3% during the 4th quarter. Vestcor Inc now owns 200,000 shares of the company’s stock valued at $5,820,000 after purchasing an additional 25,000 shares during the period. Senvest Management LLC increased its position in Telesat by 2.2% during the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after purchasing an additional 3,000 shares during the period. Finally, Millennium Management LLC increased its position in Telesat by 245.4% during the 4th quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock valued at $3,739,000 after purchasing an additional 91,272 shares during the period.

About Telesat

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.