Telesat Corporation (NASDAQ:TSAT) Stock Has Consensus Price Target of $33.50 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on Telesat, based on nine ratings: four buys, three holds and two sells. Their average 1-year price target is $33.50, below the stock’s reported Friday price of $45.29.
• Telesat reported quarterly EPS of -$7.85, missing analysts’ -$0.71 estimate, while revenue of $57.3 million topped the $56.11 million consensus estimate.
• The shares traded at $45.29, near their 50-day average of $45.50; they have ranged from $23.01 to $61.54 over the past year.

Telesat Corporation (NASDAQ:TSAT - Get Free Report) has received a consensus recommendation of "Hold" from the nine analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $33.50.

A number of research firms have recently issued reports on TSAT. Zacks Research raised Telesat from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Royal Bank Of Canada started coverage on Telesat in a report on Thursday, August 27th. They set a "moderate buy" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Telesat in a research note on Monday, September 14th. Wall Street Zen upgraded Telesat from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 31st. Finally, Canadian Imperial Bank of Commerce initiated coverage on Telesat in a report on Sunday, October 25th. They set a "sector outperform" rating for the company.

Telesat Stock Performance

Shares of Telesat stock traded down $0.10 during trading on Friday, hitting $45.29. 111,161 shares of the stock were exchanged, compared to its average volume of 243,722. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.26. The company has a fifty day moving average price of $45.50 and a 200-day moving average price of $43.22. The stock has a market capitalization of $689.31 million, a price-to-earnings ratio of -2.47 and a beta of 2.12. Telesat has a 1-year low of $23.01 and a 1-year high of $61.54.

Telesat (NASDAQ:TSAT - Get Free Report) last issued its earnings results 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). The firm had revenue of $57.30 million during the quarter, compared to analyst estimates of $56.11 million. Telesat had a negative net margin of 112.44% and a negative return on equity of 14.92%. As a group, equities analysts predict that Telesat will post -12.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Telesat

Several institutional investors and hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC boosted its holdings in shares of Telesat by 12.0% during the 3rd quarter. Gabelli Funds LLC now owns 801,931 shares of the company's stock worth $37,001,000 after buying an additional 85,650 shares during the period. NFC Investments LLC bought a new position in Telesat in the 3rd quarter valued at about $6,126,000. Senvest Management LLC raised its holdings in Telesat by 2.2% in the 1st quarter. Senvest Management LLC now owns 137,668 shares of the company's stock valued at $4,984,000 after acquiring an additional 3,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Telesat by 23.9% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 69,261 shares of the company's stock valued at $3,196,000 after acquiring an additional 13,350 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in Telesat by 18.0% during the third quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company's stock worth $2,938,000 after acquiring an additional 9,653 shares during the last quarter.

About Telesat

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.

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