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

MDA Space (TSE:MDA) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has a C$28.00 target price on the stock, up from their previous target price of C$15.00. BMO Capital Markets’ price objective indicates a potential upside of 13.13% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Cormark lifted their target price 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 objective on 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 increased their target price on MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. Desjardins raised MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on MDA Space from C$21.00 to C$27.00 in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$22.29.

MDA Space Price Performance

TSE MDA opened at C$24.75 on Monday. The business’s fifty day moving average is C$18.65 and its 200 day moving average is C$15.14. MDA Space has a fifty-two week low of C$10.65 and a fifty-two week high of C$24.95. 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 company has a market capitalization of C$2.97 billion, a PE ratio of 65.13 and a beta of 0.02.

MDA Space (TSE:MDA) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$242.00 million during the quarter, compared to the consensus estimate of C$221.34 million. Sell-side analysts predict 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 business’s stock in a transaction on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. In other news, Director John Carter Risley sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total value of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction that occurred on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Insiders sold 199,220 shares of company stock worth $3,285,909 in the last quarter. 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.