MDA Space Ltd. (TSE:MDA) Receives Average Recommendation of “Buy” from Brokerages

Shares of MDA Space Ltd. (TSE:MDA) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$63.40.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, June 10th. Morgan Stanley boosted their target price on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. 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 report on Thursday, May 14th. Canaccord Genuity Group boosted their target price on shares of MDA Space from C$56.00 to C$65.00 and gave the company a “buy” rating in a research report on Monday. Finally, 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 report on Monday.

MDA Space Stock Down 2.5%

MDA opened at C$53.67 on Thursday. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The firm has a 50 day moving average price of C$52.17 and a 200-day moving average price of C$41.15. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$67.90. The stock has a market capitalization of C$7.45 billion, a price-to-earnings ratio of 67.09 and a beta of -0.53.

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

Insider Buying and Selling at MDA Space

In related news, insider Holly Lynn Johnson sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$52.79, for a total transaction of C$2,375,550.00. Following the completion of the sale, the insider directly owned 60,331 shares in the company, valued at approximately C$3,184,873.49. The trade was a 42.72% decrease in their ownership of the stock. Also, insider Minda Marie Suchan sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$53.22, for a total transaction of C$2,128,800.00. Following the sale, the insider owned 49,784 shares of the company’s stock, valued at C$2,649,504.48. This trade represents a 44.55% decrease in their ownership of the stock. Over the last three months, insiders have sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is owned by corporate insiders.

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.