Scotia Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price objective raised by equities researchers at Scotia from C$49.00 to C$53.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotia’s target price would suggest a potential upside of 11.91% from the company’s current price.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus lifted their target price on shares of MDA Space from C$48.00 to C$57.00 in a research note on Thursday, March 5th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a report on Monday, April 6th. ATB Cormark Capital Markets dropped their price objective on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a report on Friday. Scotiabank raised MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Finally, Morgan Stanley raised their target price on MDA Space from C$51.00 to C$58.00 in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$51.33.

MDA Space Stock Up 1.5%

TSE:MDA traded up C$0.69 during mid-day trading on Friday, hitting C$47.36. 692,918 shares of the company’s stock traded hands, compared to its average volume of 1,118,538. The company has a fifty day moving average of C$42.03 and a 200 day moving average of C$34.15. The company has a debt-to-equity ratio of 30.34, a quick ratio of 1.00 and a current ratio of 0.47. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$50.98. The company has a market capitalization of C$6.52 billion, a P/E ratio of 56.38 and a beta of -0.92.

MDA Space (TSE:MDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a return on equity of 8.38% and a net margin of 6.64%.The business had revenue of C$464.10 million for the quarter. On average, 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.