Telesat (NASDAQ:TSAT) Hits New 12-Month High – Time to Buy?

Telesat Corporation (NASDAQ:TSAT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.38 and last traded at $56.30, with a volume of 15441 shares trading hands. The stock had previously closed at $53.50.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research cut Telesat from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen cut Telesat from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 25th. New Street Research assumed coverage on Telesat in a research report on Wednesday, May 13th. They issued a “sell” rating and a $30.00 target price on the stock. Finally, 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. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $33.50.

Telesat Trading Up 6.6%

The stock has a market cap of $846.47 million, a P/E ratio of -6.32 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. The business’s 50 day simple moving average is $45.74 and its two-hundred day simple moving average is $35.07.

Telesat (NASDAQ:TSAT) last released its quarterly earnings results 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 the consensus estimate of $62.03 million. Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%. As a group, analysts expect that Telesat Corporation will post -3.73 EPS for the current year.

Institutional Trading of Telesat

Several hedge funds and other institutional investors have recently made changes to their positions in TSAT. Royal Bank of Canada grew its stake in shares of 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 during the last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 during the last quarter. Acadian Asset Management LLC grew its stake in shares of 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 during the last quarter. Virtu Financial LLC bought a new stake in shares of Telesat in the fourth quarter worth $211,000. Finally, Quarry LP bought a new stake in shares of Telesat in the third quarter worth $212,000.

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.