Scotiabank Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA - Free Report) had its price objective raised by Scotiabank from C$22.00 to C$25.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on MDA. Desjardins raised MDA Space to a "moderate buy" rating in a research report on Wednesday. Royal Bank of Canada raised their target price on MDA Space from C$18.00 to C$20.00 in a research note on Friday, September 20th. Cormark raised their price objective on MDA Space from C$19.00 to C$21.00 in a report on Friday, August 9th. Finally, Canaccord Genuity Group lifted their price target on MDA Space from C$18.00 to C$21.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, MDA Space presently has an average rating of "Moderate Buy" and a consensus price target of C$19.13.

MDA Space Stock Up 10.4 %

MDA Space stock traded up C$2.21 during trading on Friday, hitting C$23.51. 615,950 shares of the company were exchanged, compared to its average volume of 250,456. The business's 50 day moving average is C$18.28 and its 200 day moving average is C$15.00. MDA Space has a 52 week low of C$10.65 and a 52 week high of C$23.92. The company has a market capitalization of C$2.82 billion, a P/E ratio of 61.87 and a beta of 0.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79.

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

Insider Transactions at MDA Space

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

About MDA Space

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.