MDA Space (TSE:MDA) Downgraded by ATB Cormark Capital Markets to “Sector Perform”

MDA Space (TSE:MDA – Get Free Report) was downgraded by investment analysts at ATB Cormark Capital Markets from an “outperform” rating to a “sector perform” rating in a research report issued on Friday,BayStreet.CA reports. They currently have a C$67.00 price objective on the stock, up from their prior price objective of C$53.00. ATB Cormark Capital Markets’ price objective would suggest a potential upside of 8.06% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Morgan Stanley upped their target price on MDA Space from C$51.00 to C$58.00 in a report on Friday, May 8th. BMO Capital Markets upped their target price on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a report on Monday, April 6th. Desjardins upped their target price on MDA Space from C$53.00 to C$55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Canaccord Genuity Group set a C$56.00 target price on MDA Space and gave the company a “buy” rating in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, MDA Space presently has an average rating of “Buy” and a consensus target price of C$55.00.

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MDA Space Price Performance

TSE MDA traded down C$5.13 on Friday, reaching C$62.00. 1,732,757 shares of the stock traded hands, compared to its average volume of 1,154,485. The firm’s fifty day simple moving average is C$46.22 and its 200 day simple moving average is C$36.80. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The company has a market cap of C$8.60 billion, a price-to-earnings ratio of 77.50 and a beta of -0.92. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$67.90.

MDA Space (TSE:MDA – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The business had revenue of C$464.10 million during the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. As a group, research analysts predict that MDA Space will post 0.9605084 EPS for the current fiscal year.

About MDA Space

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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.

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