Telesat (NASDAQ:TSAT) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Telesat Corporation (NASDAQ:TSAT - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $42.87 and traded as high as $46.44. Telesat shares last traded at $45.30, with a volume of 251,229 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSAT. Royal Bank Of Canada started coverage on shares of Telesat in a research report on Thursday, August 27th. They set a "moderate buy" rating on the stock. Desjardins began coverage on Telesat in a research report on Wednesday, November 4th. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Telesat in a research note on Monday, September 14th. Scotiabank started coverage on Telesat in a report on Monday, July 13th. They issued a "hold" rating on the stock. Finally, Stifel Nicolaus initiated coverage on Telesat in a report on Thursday, July 16th. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.50.

Telesat Stock Performance

The stock has a market cap of $689.47 million, a price-to-earnings ratio of -2.47 and a beta of 2.12. The company's fifty day simple moving average is $45.26 and its two-hundred day simple moving average is $42.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.26 and a quick ratio of 0.26.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its stake in Telesat by 18.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 63,361 shares of the company's stock valued at $2,938,000 after buying an additional 9,653 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Telesat in the 3rd quarter worth approximately $34,000. Engineers Gate Manager LP purchased a new position in shares of Telesat in the 2nd quarter worth approximately $591,000. Allied Private Wealth LLC purchased a new position in shares of Telesat in the 2nd quarter worth approximately $51,000. Finally, Militia Capital Management LLC bought a new position in shares of Telesat in the first quarter valued at approximately $560,000.

About Telesat

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.

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