Telesat (NASDAQ:TSAT) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Telesat (NASDAQ:TSAT) had its price objective raised by stock analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $37.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential downside of 0.16% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Telesat has an average rating of “Reduce” and a consensus price target of $37.00.

Telesat Trading Down 6.6%

Telesat stock opened at $37.06 on Thursday. Telesat has a 12 month low of $14.77 and a 12 month high of $43.82. The company has a quick ratio of 4.11, a current ratio of 0.25 and a debt-to-equity ratio of 0.66. The stock has a market cap of $525.88 million, a P/E ratio of -4.90 and a beta of 1.95. The company’s fifty day simple moving average is $31.49 and its 200-day simple moving average is $29.19.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Telesat by 32.2% in 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 during the last quarter. BNP Paribas Financial Markets raised its position in shares of Telesat by 1,335.3% during the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock worth $101,000 after acquiring an additional 3,552 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Telesat by 63.3% during the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after acquiring an additional 2,473 shares during the period. Virtu Financial LLC acquired a new position in shares of Telesat during the fourth quarter valued at $211,000. Finally, Quarry LP bought a new position in Telesat in the third 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.