BMO Capital Markets Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its target price raised by equities researchers at BMO Capital Markets from C$53.00 to C$68.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 20.46% from the company’s previous close.

Several other research firms have also issued reports on MDA. ATB Cormark Capital Markets lowered shares of MDA Space from a “moderate buy” rating to a “hold” rating and lifted their price target for the stock from C$53.00 to C$67.00 in a report on Friday, May 29th. Desjardins lifted their price objective on shares of MDA Space from C$55.00 to C$66.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Canaccord Genuity Group set a C$56.00 target price on MDA Space and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Scotia increased 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 report on Thursday, May 28th. Finally, Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, MDA Space presently has an average rating of “Buy” and an average price target of C$63.40.

MDA Space Stock Down 4.5%

Shares of MDA stock traded down C$2.66 on Monday, hitting C$56.45. The stock had a trading volume of 723,585 shares, compared to its average volume of 1,187,821. The business has a 50 day moving average price of C$51.42 and a 200 day moving average price of C$40.49. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The company has a market cap of C$7.83 billion, a PE ratio of 70.56 and a beta of -0.53. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. The firm had revenue of C$464.10 million for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. Research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Holly Lynn Johnson sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the transaction, the insider directly owned 60,331 shares in the company, valued at approximately C$3,184,873.49. This represents a 42.72% decrease in their ownership of the stock. Also, insider Guillaume Lavoie sold 1,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$52.63, for a total value of C$78,945.00. Following the transaction, the insider owned 6,257 shares of the company’s stock, valued at approximately C$329,305.91. This represents a 19.34% decrease in their ownership of the stock. Insiders have sold 119,269 shares of company stock worth $6,318,903 in the last quarter. 12.60% of the stock is currently owned by insiders.

About MDA Space

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.