MDA Space (TSE:MDA) Upgraded by Desjardins to Moderate Buy Rating

MDA Space (TSE:MDA) was upgraded by analysts at Desjardins to a “moderate buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

Several other equities analysts have also commented on the company. Scotiabank increased their target price on MDA Space from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada raised their price objective on MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. Cormark raised their price objective on MDA Space from C$19.00 to C$21.00 in a report on Friday, August 9th. Finally, Canaccord Genuity Group raised their price objective on MDA Space from C$18.00 to C$21.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.63.

MDA Space Stock Up 1.4 %

Shares of TSE MDA opened at C$21.30 on Wednesday. The stock has a market cap of C$2.56 billion, a P/E ratio of 56.05 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$21.86. The business’s fifty day simple moving average is C$18.11 and its 200-day simple moving average is C$14.94.

MDA Space (TSE:MDA) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.10 by C$0.09. The business had revenue of C$242.00 million for the quarter, compared to analysts’ expectations of C$221.34 million. MDA Space had a return on equity of 4.47% and a net margin of 5.53%. As a group, equities analysts predict that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insiders Place Their Bets

In other MDA Space news, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. In other news, Director Michael Philip Greenley sold 175,000 shares of the business’s stock in a transaction on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Also, Director Karl W. Smith acquired 3,244 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of C$14.83 per share, with a total value of C$48,120.20. In the last three months, insiders sold 199,220 shares of company stock valued at $3,285,909. Company insiders own 12.60% of the company’s stock.

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.