Telesat Corporation (NASDAQ:TSAT) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Telesat Corporation (NASDAQ:TSAT) have earned an average rating of “Reduce” from the seven analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.50.

Several brokerages have recently weighed in on TSAT. Scotiabank assumed coverage on shares of Telesat in a report on Monday, July 13th. They issued a “hold” rating on the stock. New Street Research initiated coverage on Telesat in a report on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price objective on the stock. Royal Bank Of Canada assumed coverage on Telesat in a research report on Thursday. They set a “moderate buy” rating on the stock. Stifel Nicolaus initiated coverage on Telesat in a research note on Thursday, July 16th. They set a “buy” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Telesat in a report on Thursday, June 18th.

Telesat Stock Up 1.4%

Shares of NASDAQ TSAT opened at $43.40 on Tuesday. The business has a 50-day moving average price of $44.42 and a 200 day moving average price of $43.46. The stock has a market cap of $644.06 million, a PE ratio of -2.43 and a beta of 2.07. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.90. Telesat has a 52-week low of $19.83 and a 52-week high of $61.54.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($7.14). Telesat had a negative return on equity of 15.53% and a negative net margin of 102.62%.The business had revenue of $57.30 million for the quarter, compared to analyst estimates of $56.11 million. Equities research analysts forecast that Telesat will post -11.93 earnings per share for the current year.

Institutional Investors Weigh In On Telesat

Institutional investors and hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC acquired a new position in Telesat during the second quarter worth $51,000. Royal Bank of Canada boosted its position in Telesat by 32.2% during 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. BNP Paribas Financial Markets grew its holdings in Telesat by 1,335.3% in the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after purchasing an additional 3,552 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after purchasing an additional 2,473 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Telesat in the fourth quarter valued at $211,000.

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.