Telesat (NASDAQ:TSAT) Raised to Strong Sell at New Street Research

Telesat (NASDAQ:TSAT) was upgraded by research analysts at New Street Research to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on TSAT. 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 report on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. Zacks Research raised shares of Telesat from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Telesat has an average rating of “Hold” and an average price target of $33.50.

Telesat Trading Up 0.5%

Shares of TSAT stock opened at $53.91 on Wednesday. The company’s fifty day simple moving average is $43.15 and its two-hundred day simple moving average is $33.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.25 and a quick ratio of 0.25. Telesat has a 1 year low of $15.42 and a 1 year high of $55.83. The stock has a market capitalization of $800.02 million, a price-to-earnings ratio of -5.98 and a beta of 2.02.

Telesat (NASDAQ:TSAT) last issued its earnings results 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). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The business had revenue of $62.59 million for the quarter, compared to the consensus estimate of $62.03 million. As a group, analysts anticipate that Telesat will post -3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its position 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 acquiring an additional 44,785 shares in the last quarter. PenderFund Capital Management Ltd. grew its position 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 acquiring an additional 309,153 shares in the last quarter. Vestcor Inc grew its position 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 acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC grew its position in Telesat by 2.2% in the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock worth $4,984,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Millennium Management LLC grew its position 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 acquiring an additional 91,272 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.