MDA Space Ltd. (TSE:MDA) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• MDA Space has a consensus analyst rating of “Buy” from 11 analysts, with an average 12-month price target of C$64.70.
• Recent analyst updates were mixed: BMO, Desjardins, and Scotia raised targets and maintained bullish ratings, while ATB Cormark and CIBC cut their price targets.
• Insiders have been selling shares recently, including two notable sales in June, and the stock was last trading at C$42.35, below its one-year high of C$67.90.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) have been assigned a consensus rating of "Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$64.70.

A number of research firms have recently issued reports on MDA. BMO Capital Markets increased their price objective on shares of MDA Space from C$53.00 to C$68.00 and gave the company an "outperform" rating in a research note on Monday, June 22nd. Desjardins upped their target price 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. ATB Cormark Capital Markets dropped their target price 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. Canadian Imperial Bank of Commerce dropped their target price on MDA Space from C$67.00 to C$59.00 in a research report on Wednesday, July 15th. Finally, Scotia lifted their price target on MDA Space from C$53.00 to C$70.00 and gave the company a "sector outperform" rating in a report on Thursday, May 28th.

Insider Buying and Selling

In other MDA Space news, insider Guillaume Lavoie sold 688 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of C$55.62, for a total value of C$38,266.56. Following the completion of the transaction, the insider directly owned 5,569 shares in the company, valued at approximately C$309,747.78. The trade was a 11.00% decrease in their ownership of the stock. 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 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 C$3,184,873.49. This represents a 42.72% decrease in their ownership of the stock. Insiders sold 119,269 shares of company stock worth $6,318,903 in the last three months. 12.60% of the stock is owned by company insiders.

MDA Space Price Performance

TSE:MDA opened at C$42.35 on Monday. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$67.90. The company has a 50-day moving average of C$54.58 and a 200 day moving average of C$44.28. The firm has a market cap of C$6.86 billion, a PE ratio of 53.37 and a beta of -0.34. 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 business had revenue of C$464.10 million for the quarter. As a group, research analysts anticipate that MDA Space will post 0.9605084 EPS for the current fiscal year.

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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