ATB Cormark Capital Markets Issues Pessimistic Forecast for MDA Space (TSE:MDA) Stock Price

Key Points

• ATB Cormark lowered its price target for MDA Space from C$51 to C$48 and maintained a “sector perform” rating, implying only 1.46% upside from the stock’s C$47.31 price.
• Analyst sentiment remains broadly positive despite mixed target revisions: MDA has a consensus “Buy” rating and an average price target of C$64.50, well above its current share price.
• MDA reported quarterly EPS of C$0.38 on C$464.1 million in revenue, while insiders sold 119,269 shares worth approximately C$6.32 million over the past 90 days.

MDA Space (TSE:MDA - Get Free Report) had its price target dropped by equities research analysts at ATB Cormark Capital Markets from C$51.00 to C$48.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 1.46% from the stock's current price.

Several other analysts also recently issued reports on MDA. Morgan Stanley upped their price target on shares of MDA Space from C$51.00 to C$58.00 in a report on Friday, May 8th. Canadian Imperial Bank of Commerce reduced their target price on MDA Space from C$67.00 to C$59.00 in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their target price on MDA Space from C$58.00 to C$60.00 and gave the company an "outperform" rating in a report on Monday. Canaccord Genuity Group dropped their price target on MDA Space from C$65.00 to C$64.00 and set a "buy" rating for the company in a research report on Monday. Finally, Desjardins boosted their price target on MDA Space from C$70.00 to C$72.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$64.50.

MDA Space Price Performance

Shares of MDA stock traded down C$0.91 during mid-day trading on Monday, reaching C$47.31. The stock had a trading volume of 569,417 shares, compared to its average volume of 1,186,863. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$67.90. The company has a market cap of C$7.66 billion, a P/E ratio of 59.62 and a beta of -0.37. The business has a 50-day simple moving average of C$50.76 and a 200 day simple moving average of C$45.81. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The business had revenue of C$464.10 million for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. On average, sell-side analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Activity

In other news, insider Minda Marie Suchan sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the completion of the transaction, the insider owned 49,784 shares of the company's stock, valued at C$2,649,504.48. The trade was a 44.55% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 688 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$55.62, for a total transaction of C$38,266.56. Following the transaction, the insider directly owned 5,569 shares in the company, valued at C$309,747.78. The trade was a 11.00% decrease in their position. In the last ninety days, insiders have sold 119,269 shares of company stock valued at $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.

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