MDA Space (TSE:MDA) Given a C$58.00 Price Target at Royal Bank Of Canada

MDA Space (TSE:MDA) has been assigned a C$58.00 price objective by investment analysts at Royal Bank Of Canada in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 34.26% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Desjardins boosted their price objective on shares of MDA Space from C$70.00 to C$72.00 and gave the company a “buy” rating in a research report on Wednesday. ATB Cormark Capital Markets cut their target price on MDA Space from C$67.00 to C$62.00 and set a “sector perform” rating on the stock in a research note on Monday, June 22nd. Scotia boosted their price target on MDA Space from C$53.00 to C$70.00 and gave the company a “sector outperform” rating in a report on Thursday, May 28th. 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. Finally, BMO Capital Markets lifted their price target on shares of MDA Space from C$53.00 to C$68.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, MDA Space presently has an average rating of “Buy” and an average target price of C$65.80.

MDA Space Trading Down 7.3%

Shares of TSE:MDA traded down C$3.40 on Thursday, reaching C$43.20. 1,008,945 shares of the company traded hands, compared to its average volume of 1,205,445. The business’s 50-day simple moving average is C$54.72 and its 200 day simple moving average is C$44.05. MDA Space has a 52 week low of C$20.85 and a 52 week high of C$67.90. The stock has a market capitalization of C$6.00 billion, a P/E ratio of 54.44 and a beta of -0.34. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last posted its quarterly 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 return on equity of 7.24% and a net margin of 6.02%. As a group, equities analysts anticipate that MDA Space will post 0.9605084 EPS for the current fiscal year.

Insider Buying and Selling

In other MDA Space news, insider Luigi Pozzebon sold 31,686 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$52.90, for a total transaction of C$1,676,189.40. Also, insider Holly Lynn Johnson sold 45,000 shares of the company’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 value of C$2,375,550.00. Following the completion of the transaction, the insider directly owned 60,331 shares in the company, valued at C$3,184,873.49. This trade represents a 42.72% decrease in their ownership of the stock. Over the last ninety days, insiders sold 119,269 shares of company stock valued at $6,318,903. 12.60% of the stock is owned by insiders.

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.