MDA Space (TSE:MDA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

MDA Space (TSE:MDA) had its target price raised by Canaccord Genuity Group from C$21.00 to C$27.00 in a research report issued on Monday, BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 9.76% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Desjardins raised MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Scotiabank upped their target price on MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Friday. Cormark increased their price objective on MDA Space from C$19.00 to C$21.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on MDA Space from C$18.00 to C$20.00 in a research note on Friday, September 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$22.29.

MDA Space Stock Up 4.6 %

Shares of TSE:MDA traded up C$1.09 on Monday, hitting C$24.60. 378,199 shares of the company traded hands, compared to its average volume of 250,917. MDA Space has a 52 week low of C$10.65 and a 52 week high of C$24.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79. The stock has a 50 day simple moving average of C$18.28 and a 200-day simple moving average of C$15.00. The company has a market cap of C$2.95 billion, a PE ratio of 64.79 and a beta of 0.02.

MDA Space (TSE:MDA) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.10 by C$0.09. The company 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, research analysts expect that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Buying and Selling at MDA Space

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