Telesat (NASDAQ:TSAT) Shares Climb 10.7% – What’s Next?

Shares of Telesat Corporation (NASDAQ:TSAT) traded up 10.7% on Monday. The company traded as high as $44.26 and last traded at $46.2660. Approximately 21,291 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 210,741 shares. The stock had previously closed at $41.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TSAT shares. Desjardins began coverage on Telesat in a research note on Wednesday, November 4th. They issued a “buy” rating on the stock. Wall Street Zen upgraded Telesat from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 31st. Royal Bank Of Canada initiated coverage on Telesat in a research note on Thursday, August 27th. They issued a “moderate buy” rating on the stock. Zacks Research upgraded Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Stifel Nicolaus began coverage on Telesat in a research note on Thursday, July 16th. They set a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.50.

Telesat Stock Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $679.22 million, a P/E ratio of -2.44 and a beta of 2.12. The company’s 50 day moving average is $45.21 and its 200 day moving average is $42.78.

Telesat (NASDAQ:TSAT) last posted 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). The company 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%. As a group, equities analysts predict that Telesat Corporation will post -13.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telesat

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Telesat during the 3rd quarter worth $34,000. Allied Private Wealth LLC acquired a new position in Telesat in the 2nd quarter worth about $51,000. Royal Bank of Canada raised its position in 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 purchasing an additional 2,928 shares during the last quarter. Senvest Management LLC raised its position in Telesat by 2.2% in the first 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 last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Telesat by 18.0% in the third quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company’s stock valued at $2,938,000 after purchasing an additional 9,653 shares during the last quarter.

About Telesat

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.