Telesat (NASDAQ:TSAT) Sets New 12-Month High – What’s Next?

Shares of Telesat Corporation (NASDAQ:TSAT) hit a new 52-week high on Monday . The company traded as high as $55.83 and last traded at $55.5480, with a volume of 86506 shares changing hands. The stock had previously closed at $54.65.

Analysts Set New Price Targets

TSAT has been the topic of several recent analyst reports. Zacks Research upgraded Telesat from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Wall Street Zen lowered Telesat from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.00.

Telesat Trading Up 0.5%

The business’s 50 day simple moving average is $41.00 and its two-hundred day simple moving average is $33.17. The stock has a market cap of $814.86 million, a P/E ratio of -6.09 and a beta of 2.02. 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 (NASDAQ:TSAT) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($1.54). The firm had revenue of $62.59 million for the quarter, compared to analyst estimates 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, analysts expect that Telesat Corporation will post -3.73 EPS for the current year.

Institutional Trading of Telesat

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vestcor Inc boosted its position in Telesat by 40.0% during the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after buying an additional 50,000 shares during the period. K.J. Harrison & Partners Inc raised its stake in shares of Telesat by 128.3% during the third quarter. K.J. Harrison & Partners Inc now owns 58,000 shares of the company’s stock valued at $1,609,000 after acquiring an additional 32,600 shares during the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of Telesat by 83.0% during the third quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock worth $2,779,000 after purchasing an additional 47,725 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Telesat by 30.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 20,882 shares of the company’s stock worth $586,000 after purchasing an additional 4,901 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Telesat by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock worth $422,000 after purchasing an additional 10,428 shares during 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.