Telesat (NASDAQ:TSAT) Upgraded to Hold at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Telesat (NASDAQ:TSAT – Free Report) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks reports.

Several other research firms have also commented on TSAT. Royal Bank Of Canada began coverage on shares of Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Scotiabank initiated coverage on shares of Telesat in a report on Monday, July 13th. They issued a “hold” rating for the company. Stifel Nicolaus started coverage on shares of Telesat in a research report on Thursday, July 16th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Telesat has an average rating of “Hold” and a consensus target price of $33.50.

Check Out Our Latest Analysis on Telesat

Telesat Price Performance

Shares of NASDAQ TSAT opened at $40.86 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $621.89 million, a price-to-earnings ratio of -2.28 and a beta of 2.11. The firm’s 50 day simple moving average is $46.68 and its 200-day simple moving average is $46.74. Telesat has a 12 month low of $23.01 and a 12 month high of $61.54.

Telesat (NASDAQ:TSAT – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($7.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($7.14). Telesat had a negative net margin of 102.62% and a negative return on equity of 15.53%. The firm had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. Analysts expect that Telesat will post -11.93 EPS for the current year.

Hedge Funds Weigh In On Telesat

A number of hedge funds have recently bought and sold shares of TSAT. State of Alaska Department of Revenue purchased a new stake in shares of Telesat in the third quarter valued at approximately $34,000. Allied Private Wealth LLC acquired a new position in shares of Telesat during the 2nd quarter worth approximately $51,000. Royal Bank of Canada raised its stake in shares of Telesat by 100.2% during the 1st quarter. Royal Bank of Canada now owns 5,850 shares of the company’s stock worth $212,000 after buying an additional 2,928 shares during the period. Militia Capital Management LLC acquired a new position in shares of Telesat during the 1st quarter worth approximately $560,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Telesat during the 2nd quarter valued at approximately $591,000.

Telesat Company Profile

(Get Free Report)

Telesat is a Canadian satellite operator that provides communications services to customers worldwide. Founded in 1969 and headquartered in Ottawa, Ontario, the company operates a fleet of geostationary satellites and related ground infrastructure designed to support broadband connectivity, broadcasting, enterprise communications, mobility and government applications.

Telesat serves telecommunications companies, broadcasters, content providers, governments and other organizations across North America and international markets.

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