Desjardins Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

Key Points

• Desjardins raised its price target on MDA Space to C$72 from C$70 and kept a buy rating, implying about 54.8% upside from the previous close.
• Analyst sentiment remains broadly positive, with the stock carrying an overall Buy consensus and an average target price of C$63.80, though some firms recently lowered targets while others raised them.
• MDA Space shares fell 2.4% to C$46.52 on the day, even as the company reported quarterly EPS of C$0.38 and revenue of C$464.1 million in its latest earnings release.

MDA Space (TSE:MDA - Get Free Report) had its price objective lifted by Desjardins from C$70.00 to C$72.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target points to a potential upside of 54.77% from the company's previous close.

Several other analysts also recently issued reports on the company. Canadian Imperial Bank of Commerce decreased their price target on MDA Space from C$67.00 to C$59.00 in a research note on Wednesday. Scotia raised their price objective on MDA Space from C$53.00 to C$70.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 28th. ATB Cormark Capital Markets reduced their target price on MDA Space from C$67.00 to C$62.00 and set a "sector perform" rating for the company in a report on Monday, June 22nd. Morgan Stanley upped their target price on MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Finally, BMO Capital Markets increased their price target on MDA Space from C$53.00 to C$68.00 and gave the company an "outperform" rating in a report on Monday, June 22nd. Two 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. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$63.80.

MDA Space Stock Down 2.4%

TSE:MDA traded down C$1.14 during trading hours on Wednesday, reaching C$46.52. The company's stock had a trading volume of 814,696 shares, compared to its average volume of 1,195,452. The company has a market cap of C$6.46 billion, a price-to-earnings ratio of 58.63 and a beta of -0.34. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The business's 50-day moving average is C$54.67 and its 200-day moving average is C$43.92. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00.

MDA Space (TSE:MDA - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The firm had revenue of C$464.10 million for the quarter. Equities research analysts predict that MDA Space will post 0.9605084 EPS for the current year.

Insiders Place Their Bets

In related news, 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 transaction of C$2,375,550.00. Following the completion of the transaction, the insider owned 60,331 shares of the company's stock, valued at approximately C$3,184,873.49. The trade was a 42.72% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of the 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 sale, the insider owned 49,784 shares of the company's stock, valued at approximately C$2,649,504.48. The trade was a 44.55% decrease in their position. In the last ninety days, insiders sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is owned by company 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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