Telesat (NASDAQ:TSAT) Stock Rating Upgraded by Zacks Research

Telesat (NASDAQ:TSAT) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

TSAT has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Telesat in a research note on Monday, September 14th. Stifel Nicolaus initiated coverage on shares of Telesat in a report on Thursday, July 16th. They set a “buy” rating on the stock. Scotiabank started coverage on shares of Telesat in a research report on Monday, July 13th. They set a “hold” rating on the stock. Finally, Royal Bank Of Canada started coverage on shares of Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Two 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 stock. Based on data from MarketBeat.com, Telesat presently has a consensus rating of “Hold” and an average price target of $33.50.

Telesat Stock Performance

NASDAQ:TSAT opened at $40.86 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.90. Telesat has a twelve month low of $23.01 and a twelve month high of $61.54. The company has a fifty day moving average of $46.68 and a 200-day moving average of $46.74. The firm has a market capitalization of $621.89 million, a P/E ratio of -2.28 and a beta of 2.11.

Telesat (NASDAQ:TSAT) last issued 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). The company had revenue of $57.30 million for the quarter, compared to the consensus estimate of $56.11 million. Telesat had a negative return on equity of 15.53% and a negative net margin of 102.62%. As a group, sell-side analysts anticipate that Telesat will post -11.93 EPS for the current year.

Institutional Investors Weigh In On Telesat

Several hedge funds and other institutional investors have recently modified their holdings of the company. Senvest Management LLC increased its holdings in shares of Telesat by 2.2% during the first quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock valued at $4,984,000 after acquiring an additional 3,000 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Telesat by 18.0% during the third quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company’s stock worth $2,938,000 after purchasing an additional 9,653 shares during the period. Walleye Capital LLC lifted its holdings in shares of Telesat by 210.1% in the 1st quarter. Walleye Capital LLC now owns 57,017 shares of the company’s stock worth $2,064,000 after purchasing an additional 38,630 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Telesat by 72.5% in the 1st quarter. Bank of America Corp DE now owns 34,794 shares of the company’s stock worth $1,260,000 after purchasing an additional 14,626 shares in the last quarter. Finally, Van Berkom & Associates Inc. bought a new position in shares of Telesat in the 1st quarter worth $991,000.

About Telesat

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.