Telesat Corporation (TSAT) – What Are Brokerages Saying About This Stock?

Telesat Corporation (NASDAQ:TSAT) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $33.50.

TSAT has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on shares of Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Scotiabank began coverage on Telesat in a research note on Monday, July 13th. They issued a “hold” rating for the company. Canadian Imperial Bank of Commerce started coverage on Telesat in a research report on Sunday. They set a “sector outperform” rating on the stock. Zacks Research upgraded Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Telesat in a research report on Monday, September 14th.

Institutional Investors Weigh In On Telesat

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

Telesat Trading Up 5.0%

Telesat stock opened at $46.92 on Wednesday. Telesat has a 12 month low of $23.01 and a 12 month high of $61.54. The stock’s 50 day moving average is $45.81 and its 200-day moving average is $42.50. The company has a market capitalization of $714.08 million, a price-to-earnings ratio of -2.62 and a beta of 2.11.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($7.85) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($7.14). The business had revenue of $57.30 million during the quarter, compared to analysts’ expectations of $56.11 million. As a group, equities research analysts predict that Telesat will post -11.93 earnings per share for the current fiscal year.

Telesat Company Profile

Telesat is a Canadian satellite communications operator that provides connectivity and related services to telecommunications companies, broadcasters, governments, enterprises and other organizations worldwide. The company operates a fleet of geostationary satellites and delivers satellite capacity for broadband communications, video distribution, enterprise networking, mobility and government applications.

In addition to its geostationary satellite services, Telesat is developing Telesat Lightspeed, a planned low Earth orbit satellite network designed to provide high-speed, low-latency broadband connectivity.