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

Telesat Corporation (NASDAQ:TSAT) shares reached 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. The stock had previously closed at $54.65.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSAT. New Street Research began coverage on Telesat in a research note on Wednesday. They issued a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, March 19th. Zacks Research raised Telesat from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Telesat from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 25th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.00.

Telesat Price Performance

The company has a market cap of $795.72 million, a price-to-earnings ratio of -5.94 and a beta of 2.02. The company has a fifty day moving average price of $42.74 and a two-hundred day moving average price of $33.81. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77.

Telesat (NASDAQ:TSAT) last announced 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). Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%.The firm had revenue of $62.59 million for the quarter, compared to analyst estimates of $62.03 million. As a group, equities research analysts anticipate that Telesat Corporation will post -3.73 EPS for the current fiscal year.

Institutional Trading of Telesat

Several institutional investors have recently modified their holdings of TSAT. Royal Bank of Canada boosted its stake in Telesat by 32.2% in the fourth quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock worth $85,000 after purchasing an additional 712 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Telesat by 4.5% in the third quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after purchasing an additional 1,280 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Telesat by 63.3% in the first 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in Telesat by 1,335.3% in the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its stake in Telesat by 19.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 24,668 shares of the company’s stock worth $680,000 after purchasing an additional 4,000 shares in the last quarter.

About Telesat

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.