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

Telesat (NASDAQ:TSAT) was upgraded by analysts at Cormark to a “moderate buy” rating in a report released on Friday, Zacks.com reports.

Telesat Stock Up 1.6 %

Shares of NASDAQ:TSAT opened at $12.15 on Friday. The company has a 50 day moving average price of $9.50 and a two-hundred day moving average price of $8.79. The company has a market capitalization of $165.74 million, a PE ratio of 1.69 and a beta of 2.29. Telesat has a 52 week low of $6.93 and a 52 week high of $15.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 6.13 and a current ratio of 6.13.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) EPS for the quarter, missing the consensus estimate of $2.47 by ($5.34). Telesat had a negative return on equity of 5.90% and a net margin of 4.59%. The business had revenue of $111.41 million for the quarter, compared to analyst estimates of $106.82 million. Analysts forecast that Telesat will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On Telesat

Several institutional investors and hedge funds have recently modified their holdings of the business. Heard Capital LLC lifted its stake in Telesat by 1.1% in the fourth quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock valued at $18,553,000 after buying an additional 19,815 shares in the last quarter. Simplify Asset Management Inc. boosted its stake in Telesat by 25.8% in the 2nd quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company’s stock worth $3,329,000 after purchasing an additional 75,000 shares during the period. Quadrature Capital Ltd bought a new position in Telesat during the 4th quarter worth about $206,000. Central Pacific Bank Trust Division acquired a new stake in shares of Telesat in the 1st quarter valued at about $51,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Telesat by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company’s stock valued at $18,228,000 after purchasing an additional 18,251 shares in the last quarter.

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.