MDA Space (TSE:MDA) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of MDA Space (TSE:MDA) from a market perform rating to an outperform rating in a report issued on Monday morning, Marketbeat reports. BMO Capital Markets currently has C$28.00 target price on the stock, up from their prior target price of C$15.00.

Several other research firms have also recently issued reports on MDA. Desjardins raised MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Scotiabank boosted their price objective on shares of MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on shares of MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. Canaccord Genuity Group lifted their target price on shares of MDA Space from C$21.00 to C$27.00 in a research note on Monday. Finally, Cormark increased their price target on shares of MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MDA Space currently has a consensus rating of “Moderate Buy” and an average price target of C$22.29.

MDA Space Stock Performance

Shares of MDA stock opened at C$25.48 on Monday. The company has a market capitalization of C$3.06 billion, a P/E ratio of 67.05 and a beta of 0.02. MDA Space has a fifty-two week low of C$10.65 and a fifty-two week high of C$25.95. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of C$19.03 and a two-hundred day moving average price of C$15.30.

MDA Space (TSE:MDA) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.09. The business had revenue of C$242.00 million for the quarter, compared to analyst estimates of C$221.34 million. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. Analysts expect that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Buying and Selling

In other MDA Space news, Director Karl W. Smith acquired 3,244 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of C$14.83 per share, for a total transaction of C$48,120.20. In related news, Director John Carter Risley sold 22,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. Also, Director Karl W. Smith bought 3,244 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of C$14.83 per share, with a total value of C$48,120.20. Insiders sold a total of 199,220 shares of company stock worth $3,285,909 in the last three months. 12.60% of the stock is owned by corporate insiders.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.