Telesat (NASDAQ:TSAT) Stock Rating Lowered by Zacks Research

Telesat (NASDAQ:TSAT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a research report on Wednesday, January 21st. New Street Research started coverage on Telesat in a report on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, March 19th. Finally, Wall Street Zen cut Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $33.50.

Telesat Price Performance

TSAT stock opened at $50.33 on Monday. The firm has a market capitalization of $746.90 million, a P/E ratio of -5.58 and a beta of 2.02. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $44.26 and a 200-day moving average of $34.41. Telesat has a 12 month low of $15.42 and a 12 month high of $55.83.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). The company had revenue of $62.59 million for the quarter, compared to analysts’ expectations of $62.03 million. Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. As a group, sell-side analysts predict that Telesat will post -3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSAT. Acadian Asset Management LLC raised its position in shares of Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after purchasing an additional 2,473 shares during the period. Jump Financial LLC bought a new stake in shares of Telesat during the 2nd quarter worth $449,000. Bank of America Corp DE boosted its position in shares of Telesat by 264.3% in the second quarter. Bank of America Corp DE now owns 56,401 shares of the company’s stock worth $1,378,000 after buying an additional 40,919 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Telesat by 59.8% in the third quarter. TD Waterhouse Canada Inc. now owns 15,981 shares of the company’s stock worth $426,000 after buying an additional 5,981 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in shares of Telesat by 4.5% during the third quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after acquiring an additional 1,280 shares in the last quarter.

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.