MDA Space (TSE:MDA) Price Target Lowered to C$51.00 at ATB Cormark Capital Markets

Key Points

• ATB Cormark Capital Markets cut its price target on MDA Space from C$62.00 to C$51.00, while keeping a sector perform rating. The new target still implies about 18.8% upside from the current share price.
• Other analysts remain more bullish, with several recently raising targets and issuing buy or sector outperform ratings. Across the analyst group, MDA Space has an average rating of Buy and an average target price of C$64.70.
• The stock was trading down 2.8% at C$42.92 on Friday, below its 50-day average of C$54.67. MDA Space recently reported quarterly EPS of C$0.38 on revenue of C$464.1 million, and insiders have also been selling shares in recent weeks.

MDA Space (TSE:MDA - Get Free Report) had its price objective decreased by stock analysts at ATB Cormark Capital Markets from C$62.00 to C$51.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. ATB Cormark Capital Markets' price objective indicates a potential upside of 18.83% from the stock's current price.

Several other equities research analysts also recently issued reports on MDA. Scotiabank boosted their price objective on shares of MDA Space from C$70.00 to C$71.00 and gave the stock a "sector outperform" rating in a research note on Monday, June 22nd. Scotia lifted their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a "sector outperform" rating in a research note on Thursday, May 28th. Stifel Nicolaus boosted their price objective on shares of MDA Space from C$70.00 to C$75.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Desjardins upped their price objective on shares of MDA Space from C$70.00 to C$72.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on MDA Space from C$56.00 to C$65.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$64.70.

MDA Space Trading Down 2.8%

TSE MDA traded down C$1.23 during trading hours on Friday, hitting C$42.92. 773,412 shares of the company's stock were exchanged, compared to its average volume of 1,206,802. The business's 50 day moving average is C$54.67 and its 200-day moving average is C$44.18. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$67.90. The firm has a market capitalization of C$5.96 billion, a P/E ratio of 54.09 and a beta of -0.34.

MDA Space (TSE:MDA - Get Free Report) last released its 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 firm had revenue of C$464.10 million during the quarter. As a group, analysts anticipate that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Activity at MDA Space

In other news, insider Guillaume Lavoie sold 1,500 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were 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 owned 6,257 shares of the company's stock, valued at approximately C$329,305.91. The trade was a 19.34% decrease in their position. Also, insider Holly Lynn Johnson sold 45,000 shares of the 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 transaction, the insider directly owned 60,331 shares in the company, valued at C$3,184,873.49. The trade was a 42.72% decrease in their position. Over the last quarter, insiders have sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is owned by 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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