Telesat (NASDAQ:TSAT) Coverage Initiated by Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus began coverage on shares of Telesat (NASDAQ:TSAT) in a report issued on Thursday. The firm set a “buy” rating on the stock.

TSAT has been the topic of a number of other research reports. Zacks Research cut shares of Telesat from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Scotiabank assumed coverage on shares of Telesat in a research report on Monday. They issued a “hold” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a research note on Thursday, June 18th. Wall Street Zen lowered Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Finally, New Street Research assumed coverage on shares of Telesat in a research note on Wednesday, May 13th. They set a “sell” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $33.50.

Telesat Stock Down 2.8%

Shares of NASDAQ:TSAT opened at $37.92 on Thursday. The firm has a market cap of $562.88 million, a PE ratio of -4.20 and a beta of 2.03. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. Telesat has a 12-month low of $19.59 and a 12-month high of $59.12. The company has a fifty day simple moving average of $48.17 and a 200 day simple moving average of $40.03.

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

Hedge Funds Weigh In On Telesat

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Polar Asset Management Partners Inc. boosted its holdings in shares of Telesat by 83.0% in the third quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock worth $2,779,000 after buying an additional 47,725 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Telesat by 2.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock valued at $53,302,000 after acquiring an additional 44,785 shares during the period. K.J. Harrison & Partners Inc lifted its position in shares of Telesat by 20.7% in the 4th quarter. K.J. Harrison & Partners Inc now owns 70,000 shares of the company’s stock valued at $2,021,000 after acquiring an additional 12,000 shares in the last quarter. Vestcor Inc boosted its stake in Telesat by 14.3% in the 4th quarter. Vestcor Inc now owns 200,000 shares of the company’s stock worth $5,820,000 after purchasing an additional 25,000 shares during the period. Finally, Militia Capital Management LLC purchased a new position in Telesat during the 1st quarter worth approximately $560,000.

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.