MDA Space (NYSE:MDA) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

MDA Space (NYSE:MDA) posted its earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports.

MDA Space Stock Performance

Shares of NYSE MDA traded up $0.31 during midday trading on Friday, reaching $34.56. 562,150 shares of the stock were exchanged, compared to its average volume of 748,796. MDA Space has a twelve month low of $23.23 and a twelve month high of $37.45.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. initiated coverage on shares of MDA Space in a report on Monday, April 6th. They issued an “overweight” rating and a $34.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of MDA Space in a report on Monday, April 6th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Weiss Ratings initiated coverage on shares of MDA Space in a report on Wednesday, April 8th. They issued a “buy (b-)” rating for the company. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, MDA Space currently has a consensus rating of “Buy” and an average target price of $37.50.

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.