Scotia Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target upped by Scotia from C$49.00 to C$53.00 in a research report report published on Friday,BayStreet.CA reports. They currently have a sector outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. BMO Capital Markets upped their price objective on shares of MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Scotiabank upgraded shares of MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. ATB Cormark Capital Markets cut their price objective on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Desjardins upped their price objective on shares of MDA Space from C$53.00 to C$55.00 and gave the company a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, MDA Space has a consensus rating of “Buy” and an average target price of C$51.33.

MDA Space Price Performance

MDA opened at C$47.26 on Friday. MDA Space has a 1 year low of C$20.85 and a 1 year high of C$50.98. The firm has a market capitalization of C$6.55 billion, a PE ratio of 56.26 and a beta of -0.92. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The business’s 50-day moving average is C$42.03 and its two-hundred day moving average is C$34.15.

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 net margin of 6.02% and a return on equity of 7.24%. The firm had revenue of C$464.10 million for the quarter. Research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

More MDA Space News

Here are the key news stories impacting MDA Space this week:

• Positive Sentiment: Morgan Stanley raised its price target on MDA Space to C$58.00 from C$51.00, implying meaningful upside and reinforcing bullish sentiment after the company’s results. BayStreet.CA
• Positive Sentiment: Scotia lifted its target to C$53.00 from C$49.00 and maintained a “sector outperform” view, signaling confidence in the stock’s outlook. BayStreet.CA
• Positive Sentiment: Desjardins increased its price target to C$55.00 from C$53.00 and kept a “buy” rating, adding to the cluster of upbeat analyst calls. BayStreet.CA
• Positive Sentiment: ATB Cormark trimmed its target slightly to C$53.00 from C$54.00, but still maintained an “outperform” rating, which remains supportive of the stock. BayStreet.CA
• Positive Sentiment: The company reported Q1 revenue of C$464.1 million, up more than 30% year over year, and posted C$0.38 in EPS, showing strong top-line growth and solid profitability. Earnings transcript
• Positive Sentiment: Management also said there is strong early demand for its Earth observation data, suggesting another growth avenue beyond its core aerospace programs. MSN
• Positive Sentiment: MDA said it is moving “full steam ahead” on Canadarm3 even after the space station cancellation, reducing fears that the program setback will derail a key long-term contract opportunity. BetaKit

About MDA Space

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.