Telesat (NASDAQ:TSAT) Reaches New 52-Week High – Should You Buy?

Telesat Corporation (NASDAQ:TSAT)’s stock price reached 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 traded. The stock had previously closed at $44.95.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Telesat from $19.00 to $37.00 and gave the stock 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $37.00.

Telesat Price Performance

The company has a market capitalization of $666.93 million, a P/E ratio of -6.22 and a beta of 1.89. The business’s 50-day simple moving average is $35.09 and its 200 day simple moving average is $31.42. 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 (NASDAQ:TSAT) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $68.48 million for the quarter, compared to the consensus estimate of $91.95 million.

Institutional Trading of Telesat

A number of hedge funds and other institutional investors have recently made changes to their positions in TSAT. PenderFund Capital Management Ltd. raised its position in shares of Telesat by 307.3% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company’s stock worth $10,512,000 after buying an additional 309,153 shares in the last quarter. Senvest Management LLC raised its holdings in shares of Telesat by 261.5% in the 4th 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 in the last quarter. Millennium Management LLC raised its holdings in shares of Telesat by 245.4% in the 4th 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 in the last quarter. Vestcor Inc raised its holdings in shares of Telesat by 40.0% in the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of Telesat by 83.0% in the 3rd 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 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.