MDA Space (NYSE:MDA) Announces Earnings Results

MDA Space (NYSE:MDA) announced its quarterly earnings results on Friday. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02, Zacks reports. MDA Space had a net margin of 6.04% and a return on equity of 8.72%.

MDA Space Price Performance

Shares of MDA traded up $0.39 during midday trading on Friday, reaching $34.65. The stock had a trading volume of 1,804,061 shares, compared to its average volume of 1,250,446. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.20. The firm has a market cap of $5.62 billion and a P/E ratio of 123.75. The firm has a 50 day moving average of $36.00. MDA Space has a 52 week low of $23.23 and a 52 week high of $49.37.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MDA shares. Weiss Ratings upgraded shares of MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Royal Bank Of Canada raised their price target on MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Zacks Research upgraded MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

About MDA Space

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.