MDA Space (TSE:MDA) Price Target Cut to C$48.00 by Analysts at ATB Cormark Capital Markets

MDA Space (TSE:MDA) had its price target cut by stock analysts at ATB Cormark Capital Markets from C$51.00 to C$48.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 1.46% from the company’s current price.

Several other equities analysts have also commented on MDA. Scotia upped 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 report on Thursday, May 28th. BMO Capital Markets lifted their price target on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Royal Bank Of Canada boosted their price objective on shares of MDA Space from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus upped their price objective on MDA Space from C$70.00 to C$75.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce cut their target price on MDA Space from C$67.00 to C$59.00 in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$64.50.

MDA Space Trading Down 1.9%

MDA traded down C$0.91 during midday trading on Monday, hitting C$47.31. The company’s stock had a trading volume of 569,417 shares, compared to its average volume of 1,186,863. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90. The firm has a 50-day moving average price of C$50.76 and a two-hundred day moving average price of C$45.81. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The firm has a market cap of C$7.66 billion, a P/E ratio of 59.62 and a beta of -0.37.

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

Insider Buying and Selling at MDA Space

In other news, insider Guillaume Lavoie sold 688 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of C$55.62, for a total value of C$38,266.56. Following the transaction, the insider owned 5,569 shares of the company’s stock, valued at approximately C$309,747.78. This trade represents a 11.00% decrease in their position. Also, insider Luigi Pozzebon sold 31,686 shares of MDA Space stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Insiders have sold 119,269 shares of company stock valued at $6,318,903 in the last ninety days. Corporate 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.