Canaccord Genuity Group Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA - Get Free Report) had its price target upped by investment analysts at Canaccord Genuity Group from C$21.00 to C$27.00 in a report issued on Monday, BayStreet.CA reports. Canaccord Genuity Group's price target suggests a potential upside of 11.57% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Cormark lifted their price objective on shares of MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. Scotiabank boosted their price target on MDA Space from C$22.00 to C$25.00 and gave the company an "outperform" rating in a research note on Friday. Desjardins upgraded MDA Space to a "moderate buy" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price on MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$22.29.

MDA Space Stock Performance

MDA Space stock traded up C$0.69 during trading hours on Monday, hitting C$24.20. The company had a trading volume of 496,095 shares, compared to its average volume of 251,609. The firm has a 50-day moving average of C$18.28 and a 200 day moving average of C$15.00. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of C$2.91 billion, a PE ratio of 63.68 and a beta of 0.02. MDA Space has a one year low of C$10.65 and a one year high of C$24.76.

MDA Space (TSE:MDA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share 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 analysts' expectations of C$221.34 million. On average, sell-side analysts expect that MDA Space will post 0.9605084 earnings per share for the current year.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip Greenley sold 175,000 shares of the company's stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. In related news, Director Michael Philip Greenley sold 175,000 shares of the business's stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Also, Director John Carter Risley sold 22,500 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total value of C$347,017.50. Insiders have sold a total of 199,220 shares of company stock worth $3,285,909 over the last 90 days. Insiders own 12.60% of the company's stock.

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.