Telesat (NASDAQ:TSAT) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Telesat (NASDAQ:TSAT) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. Scotiabank began coverage on shares of Telesat in a research note on Monday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Telesat from $19.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, March 19th. New Street Research began coverage on Telesat in a research note on Wednesday, May 13th. They issued a “sell” rating and a $30.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Telesat in a report on Thursday, June 18th. Finally, Wall Street Zen lowered Telesat from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $33.50.

Telesat Stock Performance

Shares of TSAT opened at $37.47 on Thursday. The business has a 50-day simple moving average of $47.88 and a two-hundred day simple moving average of $40.09. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.77. Telesat has a 52 week low of $19.59 and a 52 week high of $59.12. The stock has a market cap of $556.05 million, a price-to-earnings ratio of -4.15 and a beta of 2.03.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The company had revenue of $62.62 million for the quarter, compared to the consensus estimate of $62.03 million. On average, analysts expect that Telesat will post -3.73 EPS for the current year.

Institutional Trading of Telesat

Several hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC purchased a new position in shares of Telesat in the second quarter valued at $51,000. Royal Bank of Canada lifted 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 valued at $85,000 after purchasing an additional 712 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Telesat by 1,335.3% during 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 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 worth $119,000 after buying an additional 2,473 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Telesat in the 4th quarter worth about $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.