Telesat (NASDAQ:TSAT) Hits New 52-Week High – Time to Buy?

Telesat Corporation (NASDAQ:TSAT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.90 and last traded at $47.0470, with a volume of 31481 shares changing hands. The stock had previously closed at $44.95.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price 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. Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Telesat currently has a consensus rating of “Reduce” and a consensus price target of $37.00.

Telesat Stock Performance

The firm’s 50 day simple moving average is $34.31 and its 200-day simple moving average is $31.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $653.96 million, a price-to-earnings ratio of -6.10 and a beta of 1.89.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.08. Telesat had a negative net margin of 37.25% and a negative return on equity of 1.10%. The business had revenue of $68.48 million for the quarter, compared to analysts’ expectations of $91.95 million.

Hedge Funds Weigh In On Telesat

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Telesat by 32.2% during the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock valued at $85,000 after acquiring an additional 712 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Telesat by 4.5% during the 3rd quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock valued at $794,000 after acquiring an additional 1,280 shares in the last quarter. Acadian Asset Management LLC grew its holdings 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 valued at $119,000 after acquiring an additional 2,473 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Telesat by 1,335.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after acquiring an additional 3,552 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in shares of Telesat by 19.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 24,668 shares of the company’s stock valued at $680,000 after acquiring an additional 4,000 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.