MDA Space (NYSE:MDA) Earns Outperform Rating from Royal Bank Of Canada

MDA Space (NYSE:MDA)‘s stock had its “outperform” rating reiterated by Royal Bank Of Canada in a report issued on Monday,Benzinga reports. They presently have a $60.00 target price on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 66.20% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Scotiabank restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $41.00 price objective on shares of MDA Space in a report on Monday, August 10th. JPMorgan Chase & Co. raised their price target on MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Weiss Ratings upgraded MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, MDA Space has a consensus rating of “Moderate Buy” and a consensus price target of $48.25.

MDA Space Stock Performance

MDA Space stock traded up $0.89 during mid-day trading on Monday, reaching $36.10. 111,587 shares of the company were exchanged, compared to its average volume of 1,238,839. The stock has a 50-day moving average price of $35.39. MDA Space has a twelve month low of $23.23 and a twelve month high of $49.37. The stock has a market capitalization of $5.85 billion and a price-to-earnings ratio of 66.85. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million during the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. As a group, equities research analysts anticipate that MDA Space will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MDA. Caisse de depot et placement du Quebec lifted its position in shares of MDA Space by 13.7% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock valued at $32,457,000 after acquiring an additional 94,799 shares during the period. Legal & General Group Plc grew its holdings in shares of MDA Space by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 133,893 shares of the company’s stock worth $5,530,000 after acquiring an additional 12,889 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of MDA Space by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,010 shares of the company’s stock worth $5,114,000 after acquiring an additional 10,316 shares during the period. Cibc World Market Inc. increased its stake in MDA Space by 15.0% in the 2nd quarter. Cibc World Market Inc. now owns 201,121 shares of the company’s stock valued at $8,303,000 after purchasing an additional 26,193 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in MDA Space in the 2nd quarter valued at approximately $593,000.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.