Scotia Increases MDA Space (TSE:MDA) Price Target to C$53.00

MDA Space (TSE:MDA) had its target price boosted by analysts at Scotia from C$49.00 to C$53.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia’s price objective suggests a potential upside of 11.91% from the company’s previous close.

Several other research firms have also commented on MDA. ATB Cormark Capital Markets reduced their price target on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating for the company in a report on Friday. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research note on Monday, April 6th. Canaccord Genuity Group set a C$56.00 target price on MDA Space and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets lifted their price target on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$51.33.

MDA Space Stock Up 1.5%

Shares of MDA traded up C$0.69 during midday trading on Friday, reaching C$47.36. 692,918 shares of the stock were exchanged, compared to its average volume of 1,118,538. The company has a market capitalization of C$6.52 billion, a P/E ratio of 56.38 and a beta of -0.92. The company has a current ratio of 0.47, a quick ratio of 1.00 and a debt-to-equity ratio of 30.34. MDA Space has a 52 week low of C$20.85 and a 52 week high of C$50.98. The company’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 released 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 6.64% and a return on equity of 8.38%. The company had revenue of C$464.10 million during the quarter. On average, sell-side analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current 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.