Scotia Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price objective increased by equities researchers at Scotia from C$53.00 to C$70.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotia’s target price indicates a potential upside of 3.49% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Desjardins raised their price objective on MDA Space from C$53.00 to C$55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Scotiabank raised MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. BMO Capital Markets increased their target price on MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Finally, ATB Cormark Capital Markets cut their target price on MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$53.60.

MDA Space Trading Up 5.5%

Shares of MDA stock traded up C$3.54 during mid-day trading on Thursday, hitting C$67.64. 851,776 shares of the company’s stock were exchanged, compared to its average volume of 1,142,447. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.74. The stock has a 50-day simple moving average of C$45.75 and a two-hundred day simple moving average of C$36.49. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The stock has a market cap of C$9.39 billion, a price-to-earnings ratio of 84.55 and a beta of -0.92.

MDA Space (TSE:MDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The business had revenue of C$464.10 million for the quarter. Equities analysts expect that MDA Space will post 0.9605084 EPS for the current fiscal year.

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.