Desjardins Has Negative Outlook 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) - Equities researchers at Desjardins decreased their FY2027 earnings per share estimates for shares of MDA Space in a research note issued to investors on Tuesday, September 9th. Desjardins analyst B. Poirier now expects that the company will post earnings of $1.69 per share for the year, down from their previous estimate of $2.12. Desjardins has a "Buy" rating and a $43.00 price objective on the stock. The consensus estimate for MDA Space's current full-year earnings is $0.96 per share.

MDA has been the topic of several other reports. Canaccord Genuity Group cut their price objective on MDA Space from C$54.00 to C$47.00 in a research report on Tuesday, September 9th. BMO Capital Markets lowered their target price on shares of MDA Space from C$53.00 to C$40.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th. Royal Bank Of Canada lowered their target price on shares of MDA Space from C$53.00 to C$45.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th. Finally, Scotiabank lowered their target price on shares of MDA Space from C$55.00 to C$43.00 and set an "outperform" rating for the company in a report on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$38.44.

MDA Space Stock Up 3.6%

MDA Space stock traded up C$1.17 during trading hours on Thursday, hitting C$33.25. 648,263 shares of the stock traded hands, compared to its average volume of 562,146. The firm's 50-day moving average price is C$41.45 and its two-hundred day moving average price is C$32.50. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. The company has a market cap of C$4.15 billion, a PE ratio of 36.94 and a beta of -0.63. MDA Space has a one year low of C$16.20 and a one year high of C$48.31.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director John Carter Risley sold 184,230 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of C$43.00, for a total transaction of C$7,921,890.00. Following the completion of the sale, the director directly owned 1,246,020 shares in the company, valued at approximately C$53,578,860. The trade was a 12.88% decrease in their position. Also, Director Brendan Paddick sold 45,600 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$47.02, for a total transaction of C$2,143,929.60. Following the sale, the director owned 1,136,353 shares of the company's stock, valued at approximately C$53,426,772.65. This represents a 3.86% decrease in their ownership of the stock. In the last 90 days, insiders sold 1,422,150 shares of company stock worth $62,507,211. 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.