Scotiabank Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price objective increased by Scotiabank from C$70.00 to C$71.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 25.78% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Canadian Imperial Bank of Commerce set a C$57.00 price objective on shares of MDA Space and gave the company an “outperformer” rating in a research report on Thursday, May 14th. Stifel Nicolaus raised their price objective on shares of MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley lifted their price objective on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Finally, Desjardins boosted their target price on shares of MDA Space from C$66.00 to C$70.00 and gave the stock a “buy” rating in a research note on Monday. Two 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$63.40.

MDA Space Stock Down 4.5%

TSE MDA traded down C$2.66 during trading hours on Monday, hitting C$56.45. 723,585 shares of the company were exchanged, compared to its average volume of 1,187,821. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The firm has a market cap of C$7.83 billion, a price-to-earnings ratio of 70.56 and a beta of -0.53. The company has a 50 day moving average of C$51.42 and a two-hundred day moving average of C$40.49. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90.

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

Insider Transactions at MDA Space

In related news, insider Luigi Pozzebon sold 31,686 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Also, insider Minda Marie Suchan sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the transaction, the insider owned 49,784 shares in the company, valued at approximately C$2,649,504.48. This trade represents a 44.55% decrease in their ownership of the stock. Insiders sold 119,269 shares of company stock valued at $6,318,903 in the last 90 days. Company insiders own 12.60% of the company’s stock.

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.