Telesat (NASDAQ:TSAT) Rating Lowered to “Strong Sell” at Wall Street Zen

Telesat (NASDAQ:TSAT) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, March 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $37.00.

Telesat Stock Performance

Shares of NASDAQ:TSAT opened at $47.69 on Friday. The company has a market cap of $707.72 million, a price-to-earnings ratio of -6.31 and a beta of 1.89. The company has a 50-day moving average price of $38.42 and a 200-day moving average price of $32.47. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.66. Telesat has a 12 month low of $14.77 and a 12 month high of $55.69.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Tuesday, March 17th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.08. The firm had revenue of $68.48 million during the quarter, compared to the consensus estimate of $91.95 million. Telesat had a negative net margin of 37.25% and a negative return on equity of 1.10%. As a group, equities analysts anticipate that Telesat will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Telesat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL grew its holdings in Telesat by 2.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock worth $53,302,000 after purchasing an additional 44,785 shares during the period. PenderFund Capital Management Ltd. grew its holdings in Telesat by 307.3% in the third quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock worth $10,512,000 after purchasing an additional 309,153 shares during the period. Vestcor Inc grew its holdings in Telesat by 14.3% in the fourth quarter. Vestcor Inc now owns 200,000 shares of the company’s stock worth $5,820,000 after purchasing an additional 25,000 shares during the period. Senvest Management LLC grew its holdings in Telesat by 261.5% in the fourth quarter. Senvest Management LLC now owns 134,668 shares of the company’s stock worth $3,919,000 after purchasing an additional 97,411 shares during the period. Finally, Millennium Management LLC grew its holdings in Telesat by 245.4% in the fourth quarter. Millennium Management LLC now owns 128,472 shares of the company’s stock worth $3,739,000 after purchasing an additional 91,272 shares during the period.

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.