Telesat Corporation $TSAT Stock Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. lessened its position in shares of Telesat Corporation (NASDAQ:TSAT) by 36.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,236 shares of the company’s stock after selling 28,146 shares during the quarter. Van Berkom & Associates Inc.’s holdings in Telesat were worth $2,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TSAT. State of Alaska Department of Revenue purchased a new position in shares of Telesat in the third quarter worth about $34,000. Allied Private Wealth LLC acquired a new stake in shares of Telesat during the second quarter worth about $51,000. Royal Bank of Canada boosted its position in Telesat by 100.2% in the first 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 during the last quarter. Engineers Gate Manager LP purchased a new stake in Telesat in the second quarter valued at approximately $591,000. Finally, Militia Capital Management LLC purchased a new stake in Telesat in the first quarter valued at approximately $560,000.

Telesat Stock Performance

NASDAQ TSAT opened at $45.30 on Tuesday. The stock has a 50-day simple moving average of $45.26 and a two-hundred day simple moving average of $42.87. The firm has a market capitalization of $689.47 million, a P/E ratio of -2.47 and a beta of 2.12. Telesat Corporation has a fifty-two week low of $23.01 and a fifty-two week high of $61.54. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.26 and a current ratio of 0.26.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($7.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($7.14). Telesat had a negative net margin of 112.44% and a negative return on equity of 14.92%. The company had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. On average, equities analysts forecast that Telesat Corporation will post -13.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSAT shares. Wall Street Zen upgraded shares of Telesat from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. Royal Bank Of Canada started coverage on shares of Telesat in a research note on Thursday, August 27th. They set a “moderate buy” rating for the company. Canadian Imperial Bank of Commerce began coverage on shares of Telesat in a report on Sunday, October 25th. They issued a “sector outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Telesat in a report on Monday, September 14th. Finally, Stifel Nicolaus initiated coverage on shares of Telesat in a research note on Thursday, July 16th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Telesat currently has a consensus rating of “Hold” and a consensus target price of $33.50.

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.