ATB Cormark Capital Markets Has Lowered Expectations for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its target price dropped by analysts at ATB Cormark Capital Markets from C$62.00 to C$51.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price target would suggest a potential upside of 20.43% from the stock’s current price.

MDA has been the subject of several other research reports. BMO Capital Markets boosted their target price on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Desjardins raised their price target on shares of MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotia lifted their price target on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 28th. Stifel Nicolaus lifted their price target on shares of MDA Space from C$70.00 to C$75.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Royal Bank Of Canada set a C$58.00 price objective on shares of MDA Space and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$64.70.

MDA Space Stock Performance

TSE MDA opened at C$42.35 on Friday. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$67.90. The stock has a market cap of C$6.86 billion, a price-to-earnings ratio of 53.37 and a beta of -0.34. The business has a fifty day moving average of C$54.58 and a 200-day moving average of C$44.16. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. The business had revenue of C$464.10 million for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. As a group, analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MDA Space news, insider Minda Marie Suchan sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the sale, the insider directly owned 49,784 shares of the company’s stock, valued at approximately C$2,649,504.48. This trade represents a 44.55% decrease in their position. Also, insider Holly Lynn Johnson sold 45,000 shares of MDA Space stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total value of C$2,375,550.00. Following the completion of the sale, the insider owned 60,331 shares of the company’s stock, valued at C$3,184,873.49. This trade represents a 42.72% decrease in their position. Insiders sold a total of 119,269 shares of company stock valued at $6,318,903 in the last quarter. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.