MDA Space (TSE:MDA) Given a C$58.00 Price Target at Royal Bank Of Canada

Royal Bank Of Canada set a C$58.00 price target on MDA Space (TSE:MDA) in a report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

MDA has been the subject of several other research reports. Stifel Nicolaus lifted their price target on MDA Space from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Canadian Imperial Bank of Commerce cut their price objective on shares of MDA Space from C$67.00 to C$59.00 in a report on Wednesday. BMO Capital Markets raised their target price on shares of MDA Space from C$53.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Morgan Stanley boosted their target price on shares of MDA Space from C$51.00 to C$58.00 in a report on Friday, May 8th. Finally, Desjardins upped their price target on shares of MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, MDA Space presently has a consensus rating of “Buy” and a consensus target price of C$65.80.

MDA Space Price Performance

Shares of TSE:MDA opened at C$44.15 on Thursday. The company has a market cap of C$6.13 billion, a P/E ratio of 55.64 and a beta of -0.34. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. MDA Space has a 52 week low of C$20.85 and a 52 week high of C$67.90. The business has a fifty day simple moving average of C$54.67 and a 200-day simple moving average of C$44.18.

MDA Space (TSE:MDA) last released its earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The firm had revenue of C$464.10 million during the quarter. Equities research analysts forecast that MDA Space will post 0.9605084 EPS for the current year.

Insider Buying and Selling at MDA Space

In related news, insider Holly Lynn Johnson sold 45,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the completion of the sale, the insider owned 60,331 shares of the company’s stock, valued at approximately C$3,184,873.49. This represents a 42.72% decrease in their position. Also, insider Minda Marie Suchan sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the completion of the transaction, the insider owned 49,784 shares in the company, valued at C$2,649,504.48. The trade was a 44.55% decrease in their position. Insiders sold a total of 119,269 shares of company stock worth $6,318,903 in the last quarter. Company insiders own 12.60% of the company’s stock.

More MDA Space News

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

• Positive Sentiment: Royal Bank of Canada set a new C$58.00 target and rated MDA Space outperform, signaling confidence in further upside for the stock. RBC analyst rating update
• Positive Sentiment: Desjardins raised its target to C$72.00 and maintained a buy rating, reinforcing a bullish outlook on MDA Space’s prospects. Desjardins price target raised
• Positive Sentiment: News that the U.S. Space Force agency awarded tech companies a $1.75 billion missile-warning and tracking satellite contract highlights strong industry demand for space-based defense systems, a favorable backdrop for MDA Space. Space Force satellite contract article
• Neutral Sentiment: Broader reporting on the U.S. shift toward space-based sensors to track hypersonic missiles underscores the long-term opportunity in MDA’s defense and space business, but it does not indicate an immediate contract win. Space-based sensors article
• Negative Sentiment: Canadian Imperial Bank of Commerce cut its price target to C$59.00, which may weigh on sentiment despite still implying upside from the current share price. CIBC price target cut

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.