MDA Space (TSE:MDA) Trading Up 4% – Time to Buy?

Shares of MDA Space Ltd. (TSE:MDA) were up 4% during trading on Wednesday . The company traded as high as C$64.90 and last traded at C$64.28. Approximately 337,156 shares changed hands during trading, a decline of 70% from the average daily volume of 1,126,565 shares. The stock had previously closed at C$61.82.

Analyst Upgrades and Downgrades

MDA has been the subject of a number of research analyst reports. Scotia increased their price target on shares of MDA Space from C$49.00 to C$53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 8th. ATB Cormark Capital Markets reduced their price target on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce set a C$57.00 price target on shares of MDA Space and gave the stock an “outperformer” rating in a research report on Thursday, May 14th. Desjardins increased their price target on shares of MDA Space from C$53.00 to C$55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. Four investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$51.90.

MDA Space Stock Up 3.9%

The business’s 50-day moving average price is C$45.33 and its 200-day moving average price is C$36.21. 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 firm has a market capitalization of C$8.92 billion, a PE ratio of 80.33 and a beta of -0.92.

MDA Space (TSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. The business 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%. As a group, equities research analysts predict 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.