Telesat Corporation $TSAT Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in Telesat Corporation (NASDAQ:TSAT) by 127.3% in the 2nd quarter, Holdings Channel reports. The firm owned 53,708 shares of the company’s stock after buying an additional 30,076 shares during the period. TD Waterhouse Canada Inc.’s holdings in Telesat were worth $2,516,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in TSAT. Allied Private Wealth LLC purchased a new position in Telesat during the 2nd quarter worth approximately $51,000. Royal Bank of Canada boosted its holdings 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 valued at $85,000 after acquiring an additional 712 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 valued at $101,000 after acquiring an additional 3,552 shares during the period. Acadian Asset Management LLC grew its position in shares of Telesat by 63.3% during the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after acquiring an additional 2,473 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Telesat during the fourth quarter worth approximately $211,000.

Analyst Ratings Changes

Several analysts recently commented on TSAT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research report on Thursday, June 18th. Scotiabank began coverage on shares of Telesat in a research report on Monday, July 13th. They set a “hold” rating on the stock. Stifel Nicolaus assumed coverage on shares of Telesat in a research note on Thursday, July 16th. They issued a “buy” rating on the stock. New Street Research initiated coverage on Telesat in a report on Wednesday, May 13th. They set a “sell” rating and a $30.00 price target on the stock. Finally, Zacks Research cut Telesat from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $33.50.

Telesat Stock Performance

NASDAQ TSAT opened at $44.90 on Tuesday. The stock has a market capitalization of $666.32 million, a price-to-earnings ratio of -2.51 and a beta of 2.06. The business’s 50 day moving average is $44.49 and its two-hundred day moving average is $44.07. Telesat Corporation has a 12-month low of $20.81 and a 12-month high of $61.54. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.90.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($7.85) 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 business had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. Research analysts expect that Telesat Corporation will post -11.93 EPS for the current year.

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.