MDA Space (TSE:MDA) Raised to "Strong-Buy" at Scotiabank

Key Points

• Scotiabank upgraded MDA Space (TSE:MDA) to "strong-buy", and multiple other firms have recently raised ratings and price targets leaving the consensus as an average "Buy" with an average price target of C$48.14.
• MDA reported quarterly EPS of C$0.45 on C$499.1 million in revenue; the stock opened at C$42.98, has a market cap of C$5.44 billion and a P/E of 51.17.
• Director John Carter Risley sold 75,700 shares at an average price of C$27.17 (a 19.44% reduction in his stake); corporate insiders collectively own 12.60% of the company.

MDA Space (TSE:MDA - Get Free Report) was upgraded by analysts at Scotiabank to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

MDA has been the subject of several other reports. Morgan Stanley raised MDA Space from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from C$32.00 to C$46.00 in a research report on Friday, January 16th. Desjardins raised their target price on MDA Space from C$51.00 to C$53.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus lifted their target price on MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. BMO Capital Markets boosted their price target on MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. Finally, Canaccord Genuity Group boosted their price target on 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. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$48.14.

MDA Space Trading Down 4.8%

MDA opened at C$42.98 on Thursday. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$48.31. The company has a fifty day moving average of C$38.48 and a 200-day moving average of C$32.70. The stock has a market cap of C$5.44 billion, a PE ratio of 51.17 and a beta of -1.20. The company has a quick ratio of 1.00, a current ratio of 0.47 and a debt-to-equity ratio of 30.34.

MDA Space (TSE:MDA - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported C$0.45 earnings per share (EPS) for the quarter. The business had revenue of C$499.10 million for the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. On average, sell-side analysts predict that MDA Space will post 0.9605084 EPS for the current year.

Insider Buying and Selling at MDA Space

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

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

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