Telesat (NASDAQ:TSAT) Hits New 12-Month High – Time to Buy?

Telesat Corporation (NASDAQ:TSAT)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $56.38 and last traded at $56.30, with a volume of 15441 shares. The stock had previously closed at $53.50.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSAT. Deutsche Bank Aktiengesellschaft upped their target price on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, March 19th. New Street Research began coverage on Telesat in a report on Wednesday, May 13th. They issued a “sell” rating and a $30.00 target price on the stock. Zacks Research cut Telesat from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wall Street Zen cut Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $33.50.

Telesat Stock Up 6.6%

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 market cap of $846.47 million, a P/E ratio of -6.32 and a beta of 2.02. The stock’s 50-day simple moving average is $45.74 and its 200 day simple moving average is $35.07.

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

Hedge Funds Weigh In On Telesat

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vestcor Inc boosted its position in shares of Telesat by 40.0% during the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after purchasing an additional 50,000 shares in the last quarter. K.J. Harrison & Partners Inc lifted its holdings in shares of Telesat by 128.3% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 58,000 shares of the company’s stock worth $1,609,000 after purchasing an additional 32,600 shares in the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of Telesat by 83.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 105,225 shares of the company’s stock worth $2,779,000 after purchasing an additional 47,725 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Telesat by 2.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company’s stock worth $53,302,000 after purchasing an additional 44,785 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of Telesat by 4.5% in the 3rd quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after purchasing an additional 1,280 shares in the last quarter.

About Telesat

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.