MDA Space (TSE:MDA) Shares Down 8.1% – Here’s Why

MDA Space Ltd. (TSE:MDA) dropped 8.1% during mid-day trading on Friday . The stock traded as low as C$59.59 and last traded at C$61.72. Approximately 541,740 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,139,192 shares. The stock had previously closed at C$67.13.

Analyst Ratings Changes

MDA has been the topic of several research reports. Morgan Stanley boosted their price target on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday, May 8th. Stifel Nicolaus boosted their price target on shares of MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Desjardins boosted their price target on shares of MDA Space from C$53.00 to C$55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. ATB Cormark Capital Markets lowered their price target on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, BMO Capital Markets boosted their price target on shares of MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Four analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$53.60.

MDA Space Stock Down 6.4%

The stock’s fifty day moving average is C$46.22 and its two-hundred day moving average is C$36.80. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The firm has a market cap of C$8.72 billion, a P/E ratio of 78.55 and a beta of -0.92.

MDA Space (TSE:MDA) last posted its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The business had revenue of C$464.10 million for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. As a group, research analysts anticipate that MDA Space Ltd. will post 0.9605084 earnings per share for the current year.

MDA Space Company Profile

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.