MDA Space (NYSE:MDA) Price Target Raised to $50.00

MDA Space (NYSE:MDA) had its target price increased by JPMorgan Chase & Co. from $43.00 to $50.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Weiss Ratings raised MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price target on shares of MDA Space in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 price objective on shares of MDA Space in a report on Monday, August 17th. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Trading Down 1.1%

MDA stock opened at $30.91 on Wednesday. The business’s 50-day moving average price is $34.82. MDA Space has a 1 year low of $23.23 and a 1 year high of $49.37. The company has a market cap of $5.01 billion and a PE ratio of 57.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. On average, analysts forecast that MDA Space will post 0.97 earnings per share for the current fiscal year.

Institutional Trading of MDA Space

Large investors have recently added to or reduced their stakes in the company. SCS Capital Management LLC bought a new position in shares of MDA Space in the 2nd quarter valued at about $1,003,000. Deutsche Bank AG raised its holdings in shares of MDA Space by 85.9% in the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after purchasing an additional 25,197 shares during the period. BlackRock Inc. bought a new stake in shares of MDA Space in the 2nd quarter valued at about $4,931,000. Citizens Financial Group Inc. RI acquired a new stake in MDA Space in the 2nd quarter valued at about $388,000. Finally, Tacita Capital Inc lifted its stake in MDA Space by 16,480.0% in the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock valued at $103,000 after purchasing an additional 2,472 shares during the last quarter.

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.