MDA Space (TSE:MDA) Downgraded by ATB Cormark Capital Markets to “Sector Perform”

MDA Space (TSE:MDA) was downgraded by stock analysts at ATB Cormark Capital Markets from an “outperform” rating to a “sector perform” rating in a report released on Friday,BayStreet.CA reports. They currently have a C$67.00 price objective on the stock, up from their previous price objective of C$53.00. ATB Cormark Capital Markets’ price objective indicates a potential upside of 8.06% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Scotiabank raised MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Stifel Nicolaus lifted their price objective on MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. BMO Capital Markets lifted their price objective on MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Finally, Morgan Stanley lifted their price objective on MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$55.00.

MDA Space Stock Down 7.6%

Shares of MDA Space stock traded down C$5.13 during midday trading on Friday, hitting C$62.00. The company’s stock had a trading volume of 1,732,757 shares, compared to its average volume of 1,154,485. The firm has a market capitalization of C$8.60 billion, a P/E ratio of 77.50 and a beta of -0.92. The stock has a 50-day simple moving average of C$46.22 and a 200-day simple moving average of C$36.80. 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 has a 1-year low of C$20.85 and a 1-year high of C$67.90.

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

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.