ATB Cormark Capital Markets Issues Pessimistic Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target reduced by equities research analysts at ATB Cormark Capital Markets from C$67.00 to C$62.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential upside of 9.83% from the stock’s previous close.

MDA has been the subject of several other reports. Desjardins boosted their target price on MDA Space from C$66.00 to C$70.00 and gave the stock a “buy” rating in a research report on Monday. Scotia lifted their price target on MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 28th. Scotiabank raised MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Morgan Stanley upped their price objective on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce set a C$57.00 target price on shares of MDA Space and gave the company an “outperformer” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$63.40.

MDA Space Price Performance

TSE:MDA traded down C$2.66 during mid-day trading on Monday, hitting C$56.45. 723,585 shares of the stock traded hands, compared to its average volume of 1,187,821. The business’s 50-day moving average price is C$51.42 and its 200 day moving average price is C$40.49. The company has a market cap of C$7.83 billion, a PE ratio of 70.56 and a beta of -0.53. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$67.90. 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 posted its earnings results 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 net margin of 6.02% and a return on equity of 7.24%. On average, analysts expect that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Guillaume Lavoie sold 688 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of C$55.62, for a total transaction of C$38,266.56. Following the completion of the sale, the insider directly owned 5,569 shares in the company, valued at C$309,747.78. This represents a 11.00% decrease in their position. Also, insider Luigi Pozzebon sold 31,686 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$52.90, for a total value of C$1,676,189.40. In the last 90 days, insiders sold 119,269 shares of company stock worth $6,318,903. Insiders own 12.60% of the company’s stock.

MDA Space Company Profile

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.