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

MDA Space (TSE:MDA) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a C$28.00 price target on the stock, up from their previous price target of C$15.00. BMO Capital Markets’ price objective would suggest a potential upside of 13.82% from the company’s current price.

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

MDA Space Stock Up 4.6 %

MDA traded up C$1.09 during trading on Monday, hitting C$24.60. 378,199 shares of the company’s stock traded hands, compared to its average volume of 250,917. The company’s 50 day simple moving average is C$18.28 and its two-hundred day simple moving average is C$15.00. The stock has a market capitalization of C$2.95 billion, a price-to-earnings ratio of 64.79 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 has a 12-month low of C$10.65 and a 12-month high of C$24.76.

MDA Space (TSE:MDA) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating 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 analysts’ expectations of C$221.34 million. MDA Space had a return on equity of 4.47% and a net margin of 5.53%. Analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MDA Space news, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. In related news, Director John Carter Risley sold 22,500 shares of the firm’s 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. Also, Director Karl W. Smith bought 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, with a total value of C$48,120.20. Insiders have sold 199,220 shares of company stock worth $3,285,909 in the last ninety days. 12.60% of the stock is owned by corporate 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.