Canaccord Genuity Group Boosts MDA Space (TSE:MDA) Price Target to C$21.00

MDA Space (TSE:MDA) had its target price hoisted by Canaccord Genuity Group from C$18.00 to C$21.00 in a report issued on Thursday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other brokerages have also weighed in on MDA. Scotiabank increased their price target on MDA Space from C$21.00 to C$22.00 and gave the stock an outperform rating in a research note on Friday, August 16th. Royal Bank of Canada raised their target price on MDA Space from C$18.00 to C$20.00 in a research note on Friday, September 20th. Finally, Cormark raised their price objective on MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MDA Space currently has an average rating of Moderate Buy and an average price target of C$18.63.

MDA Space Stock Up 2.8 %

Shares of TSE MDA opened at C$19.21 on Thursday. The stock has a market cap of C$2.31 billion, a P/E ratio of 50.55 and a beta of -0.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. MDA Space has a 12-month low of C$10.65 and a 12-month high of C$19.30. The business’s fifty day simple moving average is C$15.32 and its 200-day simple moving average is C$14.08.

MDA Space (TSE:MDA) last posted its earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.09. MDA Space had a return on equity of 4.47% and a net margin of 5.53%. The business had revenue of C$242.00 million for the quarter, compared to analysts’ expectations of C$221.34 million. As a group, equities analysts predict that MDA Space will post 0.9757646 EPS for the current fiscal year.

Insider Transactions at MDA Space

In other MDA Space news, Director Michael Philip Greenley sold 175,000 shares of the business’s stock in a transaction dated Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. In other MDA Space news, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total transaction of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of the firm’s stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Insiders sold a total of 197,800 shares of company stock worth $3,263,189 over the last 90 days. 12.61% of the stock is owned by insiders.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.