MDA Space (TSE:MDA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

MDA Space (TSE:MDA) had its price objective increased by equities research analysts at Royal Bank Of Canada from C$58.00 to C$60.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 26.82% from the stock’s current price.

A number of other equities analysts have also recently commented on MDA. Scotiabank raised their target price on MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a report on Monday, June 22nd. Canadian Imperial Bank of Commerce lowered their price objective on shares of MDA Space from C$67.00 to C$59.00 in a research note on Wednesday, July 15th. Canaccord Genuity Group upped their target price on shares of MDA Space from C$56.00 to C$65.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Scotia raised their price objective on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a report on Thursday, May 28th. Finally, Desjardins increased their target price on MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$64.50.

MDA Space Trading Down 1.9%

MDA Space stock traded down C$0.91 during trading on Monday, hitting C$47.31. The company had a trading volume of 569,417 shares, compared to its average volume of 1,186,863. The stock has a market cap of C$7.66 billion, a price-to-earnings ratio of 59.62 and a beta of -0.37. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$67.90. The company’s 50 day simple moving average is C$50.76 and its 200-day simple moving average is C$45.81.

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

Insider Activity at MDA Space

In related news, insider Guillaume Lavoie sold 1,500 shares of MDA Space stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$52.63, for a total transaction of C$78,945.00. Following the sale, the insider directly owned 6,257 shares in the company, valued at C$329,305.91. This trade represents a 19.34% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the transaction, the insider owned 49,784 shares of the company’s stock, valued at C$2,649,504.48. This represents a 44.55% decrease in their position. Over the last 90 days, insiders sold 119,269 shares of company stock valued at $6,318,903. Corporate 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.