Canaccord Genuity Group Has Lowered Expectations for MDA Space (TSE:MDA) Stock Price

Key Points

• Canaccord Genuity Group lowered its price target for MDA Space from C$65 to C$64 while maintaining a “buy” rating, implying 35.28% upside from the previous close.
• MDA Space shares fell 1.9% to C$47.31, while analysts overall remain positive with a consensus “buy” rating and average target price of C$64.50.
• Insiders sold 119,269 shares worth approximately C$6.3 million over the past three months, including substantial sales by insiders Holly Lynn Johnson and Guillaume Lavoie.

MDA Space (TSE:MDA - Get Free Report) had its price objective cut by equities research analysts at Canaccord Genuity Group from C$65.00 to C$64.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 35.28% from the company's previous close.

A number of other analysts have also recently commented on the company. ATB Cormark Capital Markets dropped their price target on MDA Space from C$62.00 to C$51.00 and set a "sector perform" rating on the stock in a research report on Friday, July 17th. Desjardins raised their price objective on MDA Space from C$70.00 to C$72.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Morgan Stanley lifted their price objective on MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. Royal Bank Of Canada boosted their target price on MDA Space from C$58.00 to C$60.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Stifel Nicolaus increased their target price on MDA Space from C$70.00 to C$75.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Two equities 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. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$64.50.

MDA Space Stock Down 1.9%

MDA stock traded down C$0.91 during midday trading on Monday, hitting C$47.31. The stock had a trading volume of 569,417 shares, compared to its average volume of 1,186,863. The business has a 50-day moving average of C$50.76 and a two-hundred day moving average of C$45.81. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The firm has a market cap of C$7.66 billion, a price-to-earnings ratio of 59.62 and a beta of -0.37. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90.

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

Insiders Place Their Bets

In related news, insider Guillaume Lavoie sold 1,500 shares of MDA Space stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$52.63, for a total value of C$78,945.00. Following the completion of the sale, the insider directly owned 6,257 shares in the company, valued at approximately C$329,305.91. This trade represents a 19.34% decrease in their position. Also, insider Holly Lynn Johnson sold 45,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the completion of the transaction, the insider directly owned 60,331 shares of the company's stock, valued at approximately C$3,184,873.49. This trade represents a 42.72% decrease in their position. Insiders have sold 119,269 shares of company stock worth $6,318,903 over the last three months. Company insiders own 12.60% of the company's stock.

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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