Desjardins Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price objective lifted by Desjardins from C$55.00 to C$66.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 23.20% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research note on Monday, April 6th. BMO Capital Markets increased their price target on shares of MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$53.00 to C$67.00 in a research note on Friday, May 29th. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Scotia increased their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, MDA Space presently has a consensus rating of “Buy” and a consensus price target of C$57.40.

MDA Space Stock Performance

Shares of TSE:MDA traded up C$0.06 on Monday, reaching C$53.57. The company’s stock had a trading volume of 779,548 shares, compared to its average volume of 1,169,416. The stock’s 50-day moving average is C$47.98 and its two-hundred day moving average is C$38.30. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The stock has a market capitalization of C$7.43 billion, a P/E ratio of 66.96 and a beta of -0.53.

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

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.