MDA Space (TSE:MDA) Given a C$56.00 Price Target at Canaccord Genuity Group

MDA Space (TSE:MDA) has been given a C$56.00 price objective by investment analysts at Canaccord Genuity Group in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 21.32% from the company’s previous close.

MDA has been the subject of a number of other reports. BMO Capital Markets boosted their target price on shares of MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Morgan Stanley raised shares of MDA Space from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from C$32.00 to C$46.00 in a research note on Friday, January 16th. Desjardins upped their price objective on shares of MDA Space from C$51.00 to C$53.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research note on Monday, April 6th. Three research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, MDA Space currently has an average rating of “Buy” and a consensus target price of C$48.50.

MDA Space Trading Down 0.1%

Shares of MDA traded down C$0.05 during trading hours on Wednesday, reaching C$46.16. 453,917 shares of the company traded hands, compared to its average volume of 1,149,605. The firm has a market cap of C$6.36 billion, a price-to-earnings ratio of 54.95 and a beta of -0.78. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$50.98. The company has a current ratio of 0.47, a quick ratio of 1.00 and a debt-to-equity ratio of 30.34. The stock’s fifty day moving average price is C$40.74 and its 200 day moving average price is C$33.65.

MDA Space (TSE:MDA) last issued its earnings results on Wednesday, March 4th. The company reported C$0.45 earnings per share (EPS) for the quarter. The firm had revenue of C$499.10 million during the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. Sell-side analysts forecast that MDA Space will post 0.9605084 earnings per share 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.