Telesat (NASDAQ:TSAT) Trading 7.5% Higher - Here's What Happened

Key Points

• Telesat Corporation's share price rose 7.5% to $29.85 following increased trading volume of 264,585 shares, significantly above the average daily volume.
• Despite the stock's recent price increase, Weiss Ratings maintained a "sell (d+)" rating, reflecting a consensus of negative sentiment among analysts.
• The company reported earnings of $1.00 EPS exceeding estimates, but also noted a negative net margin of 20.74% with revenues below expectations.

Telesat Corporation (NASDAQ:TSAT - Get Free Report)'s share price was up 7.5% on Friday . The company traded as high as $29.90 and last traded at $29.85. Approximately 264,585 shares changed hands during trading, an increase of 145% from the average daily volume of 108,056 shares. The stock had previously closed at $27.76.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Telesat in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Telesat has a consensus rating of "Sell".

Telesat Stock Up 7.5%

The company has a debt-to-equity ratio of 1.69, a current ratio of 5.08 and a quick ratio of 5.08. The company has a fifty day moving average price of $23.19 and a 200 day moving average price of $20.81. The company has a market cap of $407.15 million, a PE ratio of -5.67 and a beta of 2.06.

Telesat (NASDAQ:TSAT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $1.69. The business had revenue of $77.94 million during the quarter, compared to analyst estimates of $109.64 million. Telesat had a negative net margin of 20.74% and a negative return on equity of 3.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSAT. Vestcor Inc bought a new stake in Telesat during the first quarter worth about $2,354,000. PCJ Investment Counsel Ltd. raised its holdings in shares of Telesat by 0.9% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 113,850 shares of the company's stock valued at $2,768,000 after buying an additional 1,050 shares in the last quarter. Dakota Wealth Management bought a new stake in Telesat in the 1st quarter worth approximately $1,898,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Telesat by 35.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,038 shares of the company's stock worth $2,152,000 after buying an additional 22,985 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Telesat by 6.9% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 79,161 shares of the company's stock valued at $1,935,000 after acquiring an additional 5,100 shares during the last quarter.

About Telesat

Telesat Corporation, a satellite operator, provides mission-critical communications solutions to broadcast, enterprise, and consulting customers worldwide. The company's satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers' homes; and enables broadcasters, cable networks, and DTH service providers to transmit television programming services.

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