MDA Space (TSE:MDA) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target on MDA Space to C$45.00 (from C$36.00) and maintains an "outperform" rating, and other firms including Morgan Stanley and Scotiabank have also raised targets, leaving a MarketBeat consensus rating of "Buy" with a C$42.38 consensus price target.
• MDA shares jumped 5.5% to C$41.20 on the news; the stock has a market cap of C$5.20 billion, a P/E of 48.47, and a 52-week range of C$19.96–C$48.31.
• Insider selling: Director John Carter Risley sold 75,700 shares at about C$27.17 in late December, reducing his holding by 19.44%, while corporate insiders collectively own 12.60% of the company.

MDA Space (TSE:MDA - Get Free Report) had its price objective boosted by analysts at BMO Capital Markets from C$36.00 to C$45.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 9.22% from the stock's current price.

Other research analysts have also issued reports about the stock. Morgan Stanley upgraded shares of MDA Space from an "equal weight" rating to an "overweight" rating and raised their target price for the company from C$32.00 to C$46.00 in a research note on Friday, January 16th. Scotiabank boosted their price objective on MDA Space from C$38.00 to C$42.00 and gave the stock an "outperform" rating in a report on Wednesday, January 21st. Stifel Nicolaus set a C$48.00 price objective on shares of MDA Space and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their price target on shares of MDA Space from C$45.00 to C$38.00 in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$42.38.

MDA Space Stock Up 5.5%

MDA traded up C$2.13 on Wednesday, reaching C$41.20. The company's stock had a trading volume of 1,036,176 shares, compared to its average volume of 1,126,184. MDA Space has a 1 year low of C$19.96 and a 1 year high of C$48.31. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. The stock has a market cap of C$5.20 billion, a price-to-earnings ratio of 48.47 and a beta of -1.15. The business's 50 day moving average is C$27.78 and its 200 day moving average is C$33.47.

MDA Space (TSE:MDA - Get Free Report) last posted its earnings results on Friday, November 14th. The company reported C$0.35 EPS for the quarter. MDA Space had a return on equity of 6.17% and a net margin of 7.22%.The firm had revenue of C$409.80 million for the quarter. As a group, research analysts forecast that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John Carter Risley sold 75,700 shares of MDA Space stock in a transaction that occurred on 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 sale, the director directly owned 313,710 shares in the company, valued at C$8,523,500.70. This trade 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.