MDA Space (TSE:MDA) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered MDA Space’s price target from C$60 to C$55 while maintaining an “outperform” rating, implying approximately 37.7% upside from the stock’s C$39.95 price.
• Analyst sentiment remains positive overall: MDA Space has an average “Buy” rating and a consensus price target of C$63.18, despite target changes ranging from C$55 to C$75.
• MDA Space reported quarterly revenue of C$498.6 million and earnings of C$0.36 per share; analysts expect full-year EPS of C$0.96.

MDA Space (TSE:MDA - Get Free Report) had its price target reduced by Royal Bank Of Canada from C$60.00 to C$55.00 in a research note issued on Monday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 37.67% from the stock's current price.

Other research analysts have also issued reports about the company. Desjardins raised their price target on MDA Space from C$70.00 to C$72.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. National Bank Financial set a C$55.00 price objective on shares of MDA Space and gave the stock an "outperform" rating in a report on Tuesday, September 15th. Stifel Nicolaus increased their target price on shares of MDA Space from C$70.00 to C$75.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Canadian Imperial Bank of Commerce decreased their target price on shares of MDA Space from C$67.00 to C$59.00 in a research report on Wednesday, July 15th. Finally, BMO Capital Markets boosted their price target on shares of MDA Space from C$53.00 to C$68.00 and gave the stock an "outperform" rating in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$63.18.

MDA Space Stock Performance

Shares of TSE MDA traded up C$0.08 during midday trading on Monday, hitting C$39.95. 380,463 shares of the company's stock were exchanged, compared to its average volume of 1,264,822. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$67.90. The firm has a market cap of C$6.48 billion, a P/E ratio of 50.57 and a beta of -0.07. The stock's 50 day moving average price is C$42.41 and its 200-day moving average price is C$46.96. The company has a debt-to-equity ratio of 20.01, a current ratio of 0.75 and a quick ratio of 1.00.

MDA Space (TSE:MDA - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported C$0.36 earnings per share for the quarter. MDA Space had a return on equity of 6.60% and a net margin of 5.66%. The firm had revenue of C$498.60 million for the quarter. Equities research analysts anticipate that MDA Space will post 0.96 EPS for the current year.

About MDA Space

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.

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