Canaccord Genuity Group Increases MDA Space (TSE:MDA) Price Target to C$51.00

MDA Space (TSE:MDA) had its price objective upped by analysts at Canaccord Genuity Group from C$37.00 to C$51.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 28.59% from the company’s previous close.

MDA has been the topic of several other reports. Scotiabank increased their price objective on MDA Space from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. BMO Capital Markets lifted their price target on shares of MDA Space from C$36.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada cut their price objective on shares of MDA Space from C$45.00 to C$38.00 in a research note on Monday, November 17th. Morgan Stanley raised shares of MDA Space from an “equal weight” rating to an “overweight” rating and increased their target price for the company from C$32.00 to C$46.00 in a report on Friday, January 16th. Finally, Stifel Nicolaus set a C$48.00 price target on shares of MDA Space and gave the stock a “buy” rating in a research note on Wednesday, October 8th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$42.88.

MDA Space Price Performance

TSE:MDA traded down C$1.45 during trading hours on Thursday, hitting C$39.66. 925,235 shares of the company’s stock traded hands, compared to its average volume of 1,140,503. MDA Space has a 52 week low of C$20.11 and a 52 week high of C$48.31. The business’s fifty day simple moving average is C$28.14 and its two-hundred day simple moving average is C$33.52. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The firm has a market cap of C$5.01 billion, a P/E ratio of 46.66 and a beta of -1.15.

MDA Space (TSE:MDA) last announced its earnings results on Friday, November 14th. The company reported C$0.35 earnings per share (EPS) for the quarter. The business had revenue of C$409.80 million during the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. On average, research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Transactions at MDA Space

In other MDA Space news, Director John Carter Risley sold 75,700 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of C$27.17, for a total value of C$2,056,769.00. Following the completion of the transaction, the director directly owned 313,710 shares in the company, valued at approximately C$8,523,500.70. This represents a 19.44% decrease in their position. 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.