Royal Bank Of Canada Cuts MDA Space (TSE:MDA) Price Target to C$38.00

MDA Space (TSE:MDA) had its price target lowered by Royal Bank Of Canada from C$45.00 to C$38.00 in a research note issued to investors on Monday,BayStreet.CA reports.

Several other analysts have also commented on the stock. Stifel Canada upgraded shares of MDA Space to a “strong-buy” rating in a report on Tuesday, October 7th. BMO Capital Markets decreased their target price on MDA Space from C$40.00 to C$36.00 in a research report on Friday, October 31st. Scotiabank lowered their target price on MDA Space from C$43.00 to C$40.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Stifel Nicolaus set a C$48.00 price target on MDA Space and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group decreased their price objective on MDA Space from C$54.00 to C$47.00 in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, MDA Space presently has an average rating of “Buy” and an average target price of C$38.89.

MDA Space Trading Up 5.5%

Shares of MDA stock opened at C$22.83 on Monday. The business has a 50-day moving average of C$31.29 and a 200 day moving average of C$34.23. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00. MDA Space has a 1-year low of C$19.96 and a 1-year high of C$48.31. The stock has a market capitalization of C$2.85 billion, a PE ratio of 25.37 and a beta of -0.86.

MDA Space (TSE:MDA) last released its quarterly earnings data on Friday, November 14th. The company reported C$0.35 earnings per share (EPS) for the quarter. The firm had revenue of C$409.80 million for the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. As a group, sell-side analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current year.

Insiders Place Their Bets

In other MDA Space news, Director Brendan Paddick sold 54,400 shares of MDA Space stock in a transaction on Monday, August 25th. The stock was sold at an average price of C$45.09, for a total transaction of C$2,452,727.36. Following the completion of the transaction, the director owned 1,181,953 shares in the company, valued at approximately C$53,290,596.72. The trade was a 4.40% decrease in their ownership of the stock. Also, insider Guillaume Lavoie bought 1,220 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of C$33.91 per share, for a total transaction of C$41,370.20. Following the completion of the purchase, the insider owned 4,562 shares of the company’s stock, valued at approximately C$154,697.42. The trade was a 36.51% increase in their position. 12.60% of the stock is currently owned by insiders.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.