MDA Space (TSE:MDA) Shares Down 8.1% – Here’s Why

MDA Space Ltd. (TSE:MDA) shares fell 8.1% on Friday . The stock traded as low as C$59.59 and last traded at C$61.72. 541,740 shares changed hands during trading, a decline of 52% from the average session volume of 1,139,192 shares. The stock had previously closed at C$67.13.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MDA. Stifel Nicolaus increased their price target on shares of MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Canaccord Genuity Group set a C$56.00 price objective on shares of MDA Space and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Scotia upped their price objective on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a report on Thursday. Finally, Desjardins upped their price objective on shares of MDA Space from C$53.00 to C$55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$53.60.

MDA Space Stock Performance

The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The company’s 50 day moving average is C$46.22 and its 200-day moving average is C$36.80. The company has a market capitalization of C$8.72 billion, a P/E ratio of 78.55 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 (EPS) for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. Equities analysts anticipate that MDA Space Ltd. will post 0.9605084 EPS for the current fiscal year.

About MDA Space

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.