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

MDA Space (TSE:MDA) had its price target lifted by equities researchers at Desjardins from C$51.00 to C$53.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective would indicate a potential upside of 20.95% from the company’s current price.

Several other analysts have also recently issued reports on the company. Scotiabank upped their price objective on MDA Space from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. BMO Capital Markets boosted their price target on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Canaccord Genuity Group upped their price target on MDA Space from C$37.00 to C$51.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Stifel Nicolaus raised their price objective on MDA Space from C$48.00 to C$57.00 in a research note on Thursday, March 5th. Finally, Morgan Stanley raised shares of MDA Space from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from C$32.00 to C$46.00 in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$48.14.

MDA Space Stock Down 2.9%

Shares of MDA traded down C$1.31 during midday trading on Friday, hitting C$43.82. The company had a trading volume of 475,814 shares, compared to its average volume of 1,032,406. The stock has a market cap of C$5.55 billion, a price-to-earnings ratio of 52.17 and a beta of -1.20. The company’s 50 day moving average price is C$38.21 and its 200 day moving average price is C$32.71. The company has a quick ratio of 1.00, a current ratio of 0.47 and a debt-to-equity ratio of 30.34. MDA Space has a 52 week low of C$20.85 and a 52 week high of C$48.31.

MDA Space (TSE:MDA) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C$0.45 EPS for the quarter. The business had revenue of C$499.10 million for the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. On average, equities research analysts predict that MDA Space will post 0.9605084 EPS for the current year.

Insider Buying and Selling at MDA Space

In related news, Director John Carter Risley sold 75,700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of C$27.17, for a total value of C$2,056,769.00. Following the sale, the director owned 313,710 shares of the company’s stock, valued at approximately C$8,523,500.70. This trade represents a 19.44% decrease in their position. Insiders own 12.60% of the company’s stock.

About MDA Space

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.