Telesat (NASDAQ:TSAT) Reaches New 1-Year High - Here's What Happened

Key Points

• Telesat hit a new 52-week high of $44.04 (last traded $43.97) on Tuesday with roughly 119,855 shares changing hands, giving it a market capitalization near $607.7 million.
• Analyst sentiment is mixed and cautious: Deutsche Bank raised its price target to $37 (from $19) with a "hold" rating, while MarketBeat shows a consensus rating of "Reduce" and an average target of $37.
• The company reported an EPS beat (‑$0.97 vs. estimate ‑$1.05) but missed revenue ($68.48M vs. $91.95M) and remains unprofitable with a negative net margin and ROE, even as several institutional investors have recently increased or initiated positions.

Telesat Corporation (NASDAQ:TSAT - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $44.04 and last traded at $43.9720, with a volume of 119855 shares trading hands. The stock had previously closed at $42.90.

Analyst Upgrades and Downgrades

TSAT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Telesat from $19.00 to $37.00 and gave the company a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Telesat in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $37.00.

Telesat Stock Down 0.2%

The stock has a market cap of $607.69 million, a PE ratio of -5.66 and a beta of 1.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.25 and a current ratio of 0.25. The company's 50-day moving average price is $32.85 and its 200 day moving average price is $30.49.

Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.08. Telesat had a negative net margin of 37.25% and a negative return on equity of 1.10%. The firm had revenue of $68.48 million during the quarter, compared to analyst estimates of $91.95 million.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in shares of Telesat by 32.2% during the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company's stock valued at $85,000 after buying an additional 712 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Telesat by 1,335.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company's stock valued at $101,000 after buying an additional 3,552 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company's stock valued at $119,000 after buying an additional 2,473 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Telesat during the 4th quarter valued at about $211,000. Finally, Quarry LP purchased a new position in shares of Telesat during the 3rd quarter valued at about $212,000.

Telesat Company Profile

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.

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