Telesat (NASDAQ:TSAT) Upgraded to Moderate Buy at Cormark

Cormark upgraded shares of Telesat (NASDAQ:TSAT) to a moderate buy rating in a research note released on Friday, Zacks.com reports.

Telesat Trading Up 1.6 %

TSAT stock opened at $12.15 on Friday. Telesat has a twelve month low of $6.93 and a twelve month high of $15.31. The stock has a market capitalization of $165.74 million, a price-to-earnings ratio of 1.69 and a beta of 2.29. The company has a quick ratio of 6.13, a current ratio of 6.13 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $9.50 and its two-hundred day simple moving average is $8.79.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($5.34). Telesat had a negative return on equity of 5.90% and a net margin of 4.59%. The firm had revenue of $111.41 million during the quarter, compared to analysts’ expectations of $106.82 million. As a group, analysts anticipate that Telesat will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On Telesat

Hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new stake in shares of Telesat during the first quarter valued at $51,000. Gamco Investors INC. ET AL grew its stake in Telesat by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company’s stock worth $18,228,000 after acquiring an additional 18,251 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Telesat during the fourth quarter worth approximately $206,000. Heard Capital LLC raised its stake in shares of Telesat by 1.1% during the fourth quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock valued at $18,553,000 after acquiring an additional 19,815 shares in the last quarter. Finally, Simplify Asset Management Inc. boosted its holdings in shares of Telesat by 25.8% in the second quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company’s stock valued at $3,329,000 after purchasing an additional 75,000 shares during the period.

Telesat Company Profile

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.