MDA Space (TSE:MDA) Downgraded by ATB Cormark Capital Markets to Sector Perform

ATB Cormark Capital Markets downgraded shares of MDA Space (TSE:MDA) from an outperform rating to a sector perform rating in a report published on Friday,BayStreet.CA reports. The firm currently has C$67.00 price objective on the stock, up from their prior price objective of C$53.00.

A number of other research firms have also recently issued reports on MDA. Canadian Imperial Bank of Commerce set a C$57.00 price objective on shares of MDA Space and gave the stock an “outperformer” rating in a research report on Thursday, May 14th. Scotia increased their target price on shares of MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a report on Thursday. Stifel Nicolaus lifted their price target on MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. Desjardins boosted their target price on shares of MDA Space from C$53.00 to C$55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Canaccord Genuity Group set a C$56.00 price target on MDA Space and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, MDA Space presently has a consensus rating of “Buy” and an average price target of C$55.00.

MDA Space Stock Down 8.4%

Shares of MDA opened at C$61.48 on Friday. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The firm has a 50 day simple moving average of C$46.53 and a two-hundred day simple moving average of C$36.97. 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 company has a market cap of C$8.53 billion, a P/E ratio of 76.85 and a beta of -0.92.

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