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

Telesat Corporation (NASDAQ:TSAT) has received a consensus rating of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.50.

Several analysts have recently commented on the stock. New Street Research initiated coverage on shares of Telesat in a research report on Wednesday, May 13th. They set a “sell” rating and a $30.00 price target on the stock. Zacks Research lowered Telesat from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Scotiabank assumed coverage on Telesat in a research note on Monday. They set a “hold” rating for the company. Stifel Nicolaus started coverage on Telesat in a research report on Thursday. They issued a “buy” rating on the stock. Finally, Wall Street Zen lowered Telesat from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 25th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSAT. Acadian Asset Management LLC raised its stake in shares of Telesat by 63.3% in the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after acquiring an additional 2,473 shares during the period. Jump Financial LLC purchased a new position in shares of Telesat during the 2nd quarter worth approximately $449,000. Bank of America Corp DE increased its holdings in Telesat by 264.3% in the 2nd quarter. Bank of America Corp DE now owns 56,401 shares of the company’s stock valued at $1,378,000 after purchasing an additional 40,919 shares during the last quarter. JPMorgan Chase & Co. raised its position in Telesat by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock valued at $422,000 after purchasing an additional 10,428 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Telesat by 1,335.3% during 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.

Telesat Price Performance

Shares of TSAT stock opened at $36.38 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.25 and a quick ratio of 0.25. The firm’s 50-day moving average is $47.51 and its two-hundred day moving average is $40.06. Telesat has a 12 month low of $19.59 and a 12 month high of $59.12. The company has a market capitalization of $539.88 million, a PE ratio of -4.03 and a beta of 2.03.

Telesat (NASDAQ:TSAT) last posted its 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 $62.62 million during the quarter, compared to analyst estimates of $62.03 million. Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. Analysts predict that Telesat will post -3.73 earnings per share for the current year.

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.