MDA Space (TSE:MDA) Price Target Raised to C$71.00

MDA Space (TSE:MDA) had its target price upped by research analysts at Scotiabank from C$70.00 to C$71.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 25.78% from the stock’s current price.

Several other brokerages also recently weighed in on MDA. Desjardins upped their target price on MDA Space from C$66.00 to C$70.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley lifted their price target on shares of MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group increased their price objective on shares of MDA Space from C$56.00 to C$65.00 and gave the company a “buy” rating in a report on Monday. Finally, Scotia lifted their price target on MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$63.40.

MDA Space Price Performance

Shares of TSE:MDA traded down C$2.66 during trading on Monday, reaching C$56.45. 723,585 shares of the company’s stock traded hands, compared to its average volume of 1,187,821. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.90. The company has a 50-day simple moving average of C$51.42 and a 200-day simple moving average of C$40.49. The firm has a market cap of C$7.83 billion, a PE ratio of 70.56 and a beta of -0.53.

MDA Space (TSE:MDA) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. As a group, analysts predict that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Activity at MDA Space

In other MDA Space news, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the sale, the insider directly owned 49,784 shares in the company, valued at C$2,649,504.48. This trade represents a 44.55% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 1,500 shares of MDA Space stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$52.63, for a total transaction of C$78,945.00. Following the completion of the sale, the insider owned 6,257 shares of the company’s stock, valued at C$329,305.91. This trade represents a 19.34% decrease in their position. In the last three months, insiders sold 119,269 shares of company stock worth $6,318,903. 12.60% of the stock is owned by corporate insiders.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.