MDA Space Ltd. (TSE:MDA) Receives Consensus Rating of “Buy” from Analysts

MDA Space Ltd. (TSE:MDA) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$64.70.

A number of brokerages have recently issued reports on MDA. Stifel Nicolaus upped their target price on shares of MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Canadian Imperial Bank of Commerce dropped their target price on MDA Space from C$67.00 to C$59.00 in a research report on Wednesday, July 15th. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Scotiabank lifted their price objective on shares of MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research note on Monday, June 22nd. Finally, Desjardins boosted their target price on MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th.

MDA Space Stock Performance

Shares of MDA opened at C$41.72 on Monday. The stock’s fifty day simple moving average is C$53.69 and its 200 day simple moving average is C$44.86. The firm has a market capitalization of C$6.76 billion, a P/E ratio of 52.58 and a beta of -0.34. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$67.90.

MDA Space (TSE:MDA) last posted its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The business 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%. On average, equities research analysts forecast that MDA Space will post 0.9605084 earnings per share for the current year.

Insiders Place Their Bets

In other MDA Space news, insider Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated Wednesday, June 10th. The stock was 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 position. Also, insider Holly Lynn Johnson sold 45,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the transaction, the insider owned 60,331 shares in the company, valued at approximately C$3,184,873.49. This represents a 42.72% decrease in their ownership of the stock. Insiders have sold 119,269 shares of company stock worth $6,318,903 over the last three months. Company insiders own 12.60% of the company’s stock.

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.