MDA Space Ltd. (TSE:MDA) Receives Average Rating of “Buy” from Brokerages

Shares of MDA Space Ltd. (TSE:MDA) have earned a consensus rating of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$64.70.

MDA has been the subject of several recent research reports. Scotiabank upped their target price on shares of MDA Space from C$70.00 to C$71.00 and gave the company a “sector outperform” rating in a research report on Monday, June 22nd. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. ATB Cormark Capital Markets decreased their price objective on MDA Space from C$62.00 to C$51.00 and set a “sector perform” rating for the company in a research note on Friday, July 17th. Desjardins upped their price objective on MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada set a C$58.00 target price on MDA Space and gave the company an “outperform” rating in a research note on Thursday, July 16th.

Insiders Place Their Bets

In other news, insider Guillaume Lavoie sold 688 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$55.62, for a total transaction of C$38,266.56. Following the sale, the insider owned 5,569 shares of the company’s stock, valued at C$309,747.78. This trade represents a 11.00% decrease in their ownership of the stock. Also, insider Holly Lynn Johnson sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the sale, the insider owned 60,331 shares in the company, valued at C$3,184,873.49. This trade represents a 42.72% decrease in their ownership of the stock. Insiders have sold 119,269 shares of company stock valued at $6,318,903 over the last ninety days. 12.60% of the stock is owned by insiders.

MDA Space Trading Down 3.8%

Shares of TSE MDA opened at C$41.72 on Monday. MDA Space has a 1-year low of C$20.85 and a 1-year high of C$67.90. The company has a market cap of C$6.76 billion, a PE ratio of 52.58 and a beta of -0.34. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The company has a 50-day moving average of C$53.69 and a two-hundred day moving average of C$44.74.

MDA Space (TSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) 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%. As a group, equities analysts expect that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

About MDA Space

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.