BMO Capital Markets Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price objective increased by equities research analysts at BMO Capital Markets from C$36.00 to C$45.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 9.22% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank lifted their price objective on shares of MDA Space from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Morgan Stanley raised shares of MDA Space from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from C$32.00 to C$46.00 in a research report on Friday, January 16th. Royal Bank Of Canada reduced their target price on MDA Space from C$45.00 to C$38.00 in a report on Monday, November 17th. Finally, Stifel Nicolaus set a C$48.00 target price on shares of MDA Space and gave the company a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$42.38.

MDA Space Price Performance

TSE:MDA traded up C$2.13 during trading hours on Wednesday, hitting C$41.20. 1,036,176 shares of the company’s stock traded hands, compared to its average volume of 1,126,184. The business’s fifty day simple moving average is C$27.78 and its two-hundred day simple moving average is C$33.47. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The firm has a market cap of C$5.20 billion, a P/E ratio of 48.47 and a beta of -1.15. MDA Space has a 52 week low of C$19.96 and a 52 week high of C$48.31.

MDA Space (TSE:MDA) last issued its earnings results on Friday, November 14th. The company reported C$0.35 earnings per share (EPS) for the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. The firm had revenue of C$409.80 million for the quarter. On average, research analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Transactions at MDA Space

In other MDA Space news, Director John Carter Risley sold 75,700 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of C$27.17, for a total transaction of C$2,056,769.00. Following the transaction, the director owned 313,710 shares in the company, valued at C$8,523,500.70. The trade was a 19.44% decrease in their ownership of the stock. 12.60% of the stock is currently owned by corporate 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. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.