Canaccord Genuity Group Issues Pessimistic Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price objective dropped by analysts at Canaccord Genuity Group from C$65.00 to C$64.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 35.28% from the stock’s current price.

A number of other equities research analysts also recently issued reports on MDA. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Morgan Stanley raised their price objective on shares of MDA Space from C$51.00 to C$58.00 in a report on Friday, May 8th. Desjardins upped their target price on shares of MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. ATB Cormark Capital Markets decreased their price target on shares of MDA Space from C$62.00 to C$51.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Finally, Scotia lifted 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. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$64.50.

MDA Space Stock Performance

Shares of MDA stock traded down C$0.91 on Monday, reaching C$47.31. The stock 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 P/E ratio of 59.62 and a beta of -0.37. MDA Space has a 1 year low of C$20.85 and a 1 year high of C$67.90. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. The company has a 50 day simple moving average of C$50.76 and a 200 day simple moving average of C$45.81.

MDA Space (TSE:MDA) last posted its quarterly earnings data 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 during the quarter. Equities research analysts expect that MDA Space will post 0.9605084 EPS for the current year.

Insider Activity

In other MDA Space news, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction that occurred 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 transaction, the insider owned 49,784 shares of the company’s stock, valued at C$2,649,504.48. The trade was a 44.55% decrease in their ownership of the stock. Also, insider Holly Lynn Johnson sold 45,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the sale, the insider owned 60,331 shares in the company, valued at C$3,184,873.49. The trade was a 42.72% decrease in their position. Over the last 90 days, insiders sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is owned by insiders.

MDA Space Company Profile

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.