Telesat (NASDAQ:TSAT) Reaches New 1-Year High – Time to Buy?

Telesat Corporation (NASDAQ:TSAT)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $55.83 and last traded at $55.5480, with a volume of 86506 shares trading hands. The stock had previously closed at $54.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Telesat from $19.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. Wall Street Zen cut Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Finally, Zacks Research raised Telesat from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.00.

Telesat Trading Up 0.5%

The firm has a market capitalization of $814.86 million, a P/E ratio of -6.09 and a beta of 2.02. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $41.00 and a 200-day moving average of $33.17.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($2.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). The company had revenue of $62.59 million for the quarter, compared to the consensus estimate of $62.03 million. Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%. On average, equities research analysts predict that Telesat Corporation will post -3.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telesat

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Telesat by 32.2% during the fourth quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock worth $85,000 after buying an additional 712 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Telesat by 1,335.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after acquiring an additional 3,552 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of 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 during the period. Virtu Financial LLC acquired a new stake in shares of Telesat during the 4th quarter worth approximately $211,000. Finally, Quarry LP bought a new position in Telesat in the third quarter valued at approximately $212,000.

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.