MDA Space (TSE:MDA) Stock Price Expected to Rise, Cormark Analyst Says

MDA Space (TSE:MDA) had its price objective hoisted by Cormark from C$30.00 to C$31.00 in a research report released on Monday morning,BayStreet.CA reports. Cormark also issued estimates for MDA Space’s FY2024 earnings at $0.93 EPS, FY2025 earnings at $0.95 EPS and FY2026 earnings at $1.24 EPS.

Several other brokerages also recently weighed in on MDA. Canaccord Genuity Group lifted their target price on MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. Ci Capital boosted their price target on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday. BMO Capital Markets raised shares of MDA Space from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$15.00 to C$28.00 in a research note on Monday, November 4th. Finally, Scotiabank boosted their target price on MDA Space from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, MDA Space has an average rating of “Buy” and a consensus target price of C$27.83.

MDA Space Price Performance

TSE MDA opened at C$26.46 on Monday. The company has a 50-day moving average price of C$20.47 and a two-hundred day moving average price of C$15.84. MDA Space has a 52 week low of C$10.65 and a 52 week high of C$27.47. The stock has a market cap of C$3.18 billion, a price-to-earnings ratio of 69.84 and a beta of 0.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Buying and Selling

In other news, Director John Carter Risley sold 22,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of the company’s stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. In the last three months, insiders sold 198,920 shares of company stock valued at $3,281,370. Company insiders own 12.60% of the company’s stock.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.