Desjardins Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target increased by stock analysts at Desjardins from C$55.00 to C$66.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 23.20% from the company’s current price.

Several other equities research analysts have also recently weighed in on MDA. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$53.00 to C$67.00 in a research note on Friday, May 29th. Scotia upped their target price on MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 28th. Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a report on Monday, April 6th. Scotiabank upgraded MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Finally, Canadian Imperial Bank of Commerce set a C$57.00 price target on MDA Space and gave the company an “outperformer” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, MDA Space presently has an average rating of “Buy” and an average target price of C$57.40.

MDA Space Price Performance

Shares of MDA stock traded up C$0.06 during trading hours on Monday, hitting C$53.57. The stock had a trading volume of 779,548 shares, compared to its average volume of 1,169,416. MDA Space has a one year low of C$20.85 and a one year high of C$67.90. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The stock’s 50-day moving average price is C$47.98 and its two-hundred day moving average price is C$38.30. The stock has a market capitalization of C$7.43 billion, a price-to-earnings ratio of 66.96 and a beta of -0.53.

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

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.