MDA Space (TSE:MDA) Price Target Raised to C$57.00

Key Points

• Stifel Nicolaus raised its target price on MDA Space to C$57.00, implying about a 42% upside, while other firms have also lifted targets and the consensus rating remains Buy with a consensus price target of C$47.43.
• The stock traded down 6.7% to C$40.05 on heavy volume (~1.08M shares); the company has a market cap of C$5.06B, a P/E of 47.12, and reported quarterly EPS of C$0.45 on C$499.1M in revenue.
• Insider activity includes Director John Carter Risley selling 75,700 shares in December (reducing his stake by 19.44%), and corporate insiders collectively own 12.6% of the company.

MDA Space (TSE:MDA - Get Free Report) had its target price increased by stock analysts at Stifel Nicolaus from C$48.00 to C$57.00 in a note issued to investors on Thursday,BayStreet.CA reports. Stifel Nicolaus' price target suggests a potential upside of 42.32% from the company's previous close.

MDA has been the subject of several other reports. Royal Bank Of Canada cut their price target on shares of MDA Space from C$45.00 to C$38.00 in a report on Monday, November 17th. BMO Capital Markets upped their price objective on shares of MDA Space from C$36.00 to C$45.00 and gave the stock an "outperform" rating in a report on Wednesday, January 28th. Canaccord Genuity Group raised their target price on shares of MDA Space from C$37.00 to C$51.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Desjardins lifted their target price on shares of MDA Space from C$39.00 to C$48.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Finally, Scotiabank boosted their target price on shares of MDA Space from C$38.00 to C$42.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$47.43.

MDA Space Stock Down 6.7%

MDA traded down C$2.86 during midday trading on Thursday, reaching C$40.05. 1,084,646 shares of the company were exchanged, compared to its average volume of 999,213. MDA Space has a one year low of C$20.85 and a one year high of C$48.31. The company has a debt-to-equity ratio of 32.45, a quick ratio of 1.00 and a current ratio of 0.55. The company has a market cap of C$5.06 billion, a price-to-earnings ratio of 47.12 and a beta of -0.97. The company's fifty day moving average price is C$34.70 and its 200 day moving average price is C$32.75.

MDA Space (TSE:MDA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported C$0.45 earnings per share for the quarter. The business had revenue of C$499.10 million for the quarter. MDA Space had a return on equity of 8.76% and a net margin of 7.40%. As a group, analysts expect that MDA Space will post 0.9605084 EPS for the current year.

Insider Activity

In related news, Director John Carter Risley sold 75,700 shares of the company's stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of C$27.17, for a total transaction of C$2,056,769.00. Following the completion of the sale, the director directly owned 313,710 shares in the company, valued at C$8,523,500.70. This represents a 19.44% decrease in their position. Corporate insiders own 12.60% of the company's stock.

MDA Space Company Profile

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. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.

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