ATB Cormark Capital Markets Cuts MDA Space (TSE:MDA) Price Target to C$46.00

MDA Space (TSE:MDA) had its price target reduced by ATB Cormark Capital Markets from C$61.00 to C$46.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 20.45% from the stock’s current price.

Several other equities analysts have also recently issued reports on MDA. Morgan Stanley raised MDA Space from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from C$32.00 to C$46.00 in a research note on Friday, January 16th. Canaccord Genuity Group lifted their price target on shares of MDA Space from C$37.00 to C$51.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Desjardins boosted their price objective on shares of MDA Space from C$51.00 to C$53.00 and gave the company a “buy” rating in a research report on Friday, March 20th. BMO Capital Markets upped their price objective on shares of MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Finally, Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$47.88.

MDA Space Trading Down 5.2%

Shares of TSE MDA traded down C$2.11 during trading hours on Wednesday, hitting C$38.19. The company’s stock had a trading volume of 2,351,246 shares, compared to its average volume of 1,120,708. The company has a debt-to-equity ratio of 30.34, a quick ratio of 1.00 and a current ratio of 0.47. The stock has a market cap of C$5.21 billion, a price-to-earnings ratio of 45.46 and a beta of -1.20. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$48.31. The business has a 50-day simple moving average of C$38.98 and a 200-day simple moving average of C$32.52.

MDA Space (TSE:MDA) last released its quarterly earnings results on Wednesday, March 4th. The company reported C$0.45 EPS for the quarter. MDA Space had a return on equity of 8.38% and a net margin of 6.64%.The business had revenue of C$499.10 million during the quarter. On average, analysts anticipate that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.