Telesat (NASDAQ:TSAT) Research Coverage Started at Stifel Nicolaus

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

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

Telesat Stock Performance

Telesat stock opened at $36.38 on Thursday. The firm has a 50 day simple moving average of $47.51 and a 200-day simple moving average of $40.06. The stock has a market cap of $539.88 million, a price-to-earnings ratio of -4.03 and a beta of 2.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.25 and a quick ratio of 0.25. Telesat has a 1-year low of $19.59 and a 1-year high of $59.12.

Telesat (NASDAQ:TSAT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $62.62 million for the quarter, compared to analysts’ expectations of $62.03 million. On average, analysts expect that Telesat will post -4.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSAT. Allied Private Wealth LLC purchased a new position in shares of Telesat during the second quarter worth $51,000. Royal Bank of Canada raised its holdings in shares of Telesat by 32.2% in the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock valued at $85,000 after buying an additional 712 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Telesat by 1,335.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after buying an additional 3,552 shares during the period. Acadian Asset Management LLC lifted its stake in Telesat by 63.3% during the 1st 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in Telesat during 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.