Telesat (NASDAQ:TSAT) Stock Price Up 10.7% - What's Next?

Key Points

• Telesat shares rose 10.7% to $46.27, while trading volume fell 90% below its average.
• Analysts’ consensus rating is Hold, with a $33.50 average price target—well below the stock’s reported trading price. Ratings are mixed, with four Buy, three Hold, and two Sell recommendations.
• Telesat’s latest quarterly loss per share was $7.85, missing the $0.71 loss analysts expected, though revenue of $57.3 million topped estimates.

Telesat Corporation (NASDAQ:TSAT - Get Free Report) traded up 10.7% on Monday. The company traded as high as $44.26 and last traded at $46.2660. 21,291 shares traded hands during trading, a decline of 90% from the average daily volume of 210,741 shares. The stock had previously closed at $41.79.

Analysts Set New Price Targets

TSAT has been the subject of a number of recent analyst reports. Zacks Research raised Telesat from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Stifel Nicolaus started coverage on Telesat in a report on Thursday, July 16th. They set a "buy" rating on the stock. Wall Street Zen upgraded Telesat from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 31st. Royal Bank Of Canada started coverage on Telesat in a report on Thursday, August 27th. They set a "moderate buy" rating for the company. Finally, Canadian Imperial Bank of Commerce started coverage on shares of Telesat in a research report on Sunday, October 25th. They set a "sector outperform" rating for the company. 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 stock. According to data from MarketBeat.com, Telesat currently has a consensus rating of "Hold" and a consensus target price of $33.50.

Telesat Stock Performance

The company has a market cap of $679.22 million, a P/E ratio of -2.44 and a beta of 2.12. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $45.21 and a two-hundred day moving average price of $42.78.

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

Institutional Trading of Telesat

Several large investors have recently modified their holdings of the stock. Senvest Management LLC raised its position in shares of 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 buying an additional 3,000 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Telesat by 18.0% during the 3rd 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 period. Walleye Capital LLC boosted its position in shares of Telesat by 210.1% during the 1st quarter. Walleye Capital LLC now owns 57,017 shares of the company's stock worth $2,064,000 after acquiring an additional 38,630 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Telesat by 72.5% during the 1st quarter. Bank of America Corp DE now owns 34,794 shares of the company's stock worth $1,260,000 after acquiring an additional 14,626 shares in the last quarter. Finally, Van Berkom & Associates Inc. bought a new position in Telesat in the first quarter valued at approximately $991,000.

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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