MDA Space Ltd. (NYSE:MDA) Stock Has Consensus Target Price of $50.00 According to Analysts

MDA Space Ltd. (NYSE:MDA) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $50.00.

Several equities analysts recently commented on MDA shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of MDA Space in a research report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price objective on shares of MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a research note on Monday, August 17th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd.

MDA Space Price Performance

NYSE:MDA traded down $0.48 during mid-day trading on Friday, reaching $28.19. The company’s stock had a trading volume of 844,684 shares, compared to its average volume of 1,985,294. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $4.57 billion and a PE ratio of 52.20. The stock’s fifty day moving average price is $30.29. MDA Space has a twelve month low of $23.23 and a twelve month high of $49.37.

MDA Space (NYSE:MDA) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. Sell-side analysts expect that MDA Space will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MDA Space

A number of institutional investors have recently added to or reduced their stakes in MDA. Tacita Capital Inc raised its holdings in shares of MDA Space by 16,480.0% in the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after purchasing an additional 2,472 shares during the period. Nykredit A S acquired a new position in shares of MDA Space in the 2nd quarter valued at about $124,000. Capstone Investment Advisors LLC purchased a new stake in shares of MDA Space during the 2nd quarter worth about $276,000. Envestnet Asset Management Inc. purchased a new stake in shares of MDA Space during the 2nd quarter worth about $317,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of MDA Space during the 2nd quarter worth about $388,000.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and delivers systems, products and services for government and commercial customers. Its capabilities span satellite communications, Earth observation, space robotics, geointelligence and space exploration.

The company designs and builds satellite systems and payloads, robotics and servicing technologies, and data and analytics solutions. Its historical work includes major contributions to the Canadarm, Canadarm2 and Dextre robotic systems used in space, as well as technologies supporting Earth-observation programs such as RADARSAT.

Headquartered in Brampton, Ontario, MDA Space serves customers in Canada and international markets.