Desjardins Has Pessimistic View of MDA Space FY2027 Earnings

Key Points

• Desjardins has downgraded its FY2027 earnings per share estimate for MDA Space from $2.12 to $1.69, while maintaining a "Buy" rating and a target price of $43.00.
• Multiple analysts, including Royal Bank of Canada and Scotiabank, have lowered their price targets for the stock, reflecting a more cautious outlook.
• Insider trading activity has been notable, with a director selling over 54,000 shares and a senior officer selling 40,000 shares, indicating a 12.60% corporate insider ownership in MDA Space.

MDA Space Ltd. (TSE:MDA - Free Report) - Desjardins reduced their FY2027 earnings per share estimates for shares of MDA Space in a report released on Tuesday, September 9th. Desjardins analyst B. Poirier now anticipates that the company will earn $1.69 per share for the year, down from their previous estimate of $2.12. Desjardins currently has a "Buy" rating and a $43.00 target price on the stock. The consensus estimate for MDA Space's current full-year earnings is $0.96 per share.

A number of other equities analysts also recently commented on the company. Royal Bank Of Canada decreased their price target on MDA Space from C$53.00 to C$45.00 and set an "outperform" rating for the company in a research note on Tuesday. Scotiabank reduced their target price on MDA Space from C$55.00 to C$43.00 and set an "outperform" rating on the stock in a report on Tuesday. BMO Capital Markets lowered their price target on MDA Space from C$53.00 to C$40.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Canaccord Genuity Group dropped their price target on MDA Space from C$54.00 to C$47.00 in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$38.44.

MDA Space Price Performance

Shares of MDA stock opened at C$31.78 on Thursday. The firm has a fifty day moving average of C$41.80 and a two-hundred day moving average of C$32.23. The firm has a market cap of C$3.97 billion, a P/E ratio of 35.31 and a beta of -0.63. MDA Space has a 1-year low of C$14.99 and a 1-year high of C$48.31. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00.

Insider Buying and Selling

In other news, Director Brendan Paddick sold 54,400 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director directly owned 1,181,953 shares of the company's stock, valued at approximately C$53,290,596.72. This represents a 4.40% decrease in their ownership of the stock. Also, Senior Officer Minda Marie Suchan sold 40,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$30.64, for a total value of C$1,225,608.00. Insiders sold a total of 372,230 shares of company stock valued at $15,228,315 over the last 90 days. 12.60% of the stock is owned by corporate insiders.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.

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