Telesat (NASDAQ:TSAT) Stock Price Up 10.7% – Time to Buy?

Telesat Corporation (NASDAQ:TSAT) shares rose 10.7% during trading on Monday. The stock traded as high as $44.26 and last traded at $46.2660. 21,291 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 210,741 shares. The stock had previously closed at $41.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TSAT shares. Canadian Imperial Bank of Commerce began coverage on shares of Telesat in a report on Sunday, October 25th. They set a “sector outperform” rating on the stock. Wall Street Zen raised shares of Telesat from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st. Zacks Research upgraded shares of Telesat from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Royal Bank Of Canada began coverage on shares of Telesat in a research report on Thursday, August 27th. They set a “moderate buy” rating on the stock. Finally, Desjardins began coverage on shares of Telesat in a research note on Wednesday, November 4th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.50.

Telesat Stock Performance

The stock has a market capitalization of $701.95 million, a PE ratio of -2.51 and a beta of 2.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a 50 day moving average of $45.32 and a 200-day moving average of $42.96.

Telesat (NASDAQ:TSAT) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $56.11 million. Telesat had a negative net margin of 112.44% and a negative return on equity of 14.92%. Research analysts forecast that Telesat Corporation will post -12.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TSAT. Senvest Management LLC lifted its position in Telesat by 2.2% in the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company’s stock worth $4,984,000 after buying an additional 3,000 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Telesat by 18.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company’s stock valued at $2,938,000 after acquiring an additional 9,653 shares in the last quarter. Walleye Capital LLC grew its holdings in shares of Telesat by 210.1% during the 1st quarter. Walleye Capital LLC now owns 57,017 shares of the company’s stock valued at $2,064,000 after acquiring an additional 38,630 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Telesat by 72.5% in the first quarter. Bank of America Corp DE now owns 34,794 shares of the company’s stock worth $1,260,000 after acquiring an additional 14,626 shares during the last quarter. Finally, Van Berkom & Associates Inc. acquired a new position in shares of Telesat in the first quarter worth $991,000.

Telesat Company Profile

Telesat is a Canadian satellite communications company that provides connectivity services to customers including telecommunications providers, broadcasters, governments and businesses. Its services support applications such as broadband access, video distribution and communications for customers operating in remote or mobile environments. Founded in 1969 and headquartered in Ottawa, Telesat serves customers around the world through its satellite network and related ground infrastructure. The company operates geostationary satellites and is developing Telesat Lightspeed, a low Earth orbit satellite network intended to provide high-speed, low-latency connectivity.