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

MDA Space Ltd. (NYSE:MDA) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment 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 twelve-month price objective among brokerages that have covered the stock in the last year is $50.00.

Several research firms have issued reports on MDA. Weiss Ratings downgraded MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of MDA Space in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 price target on shares of MDA Space in a research note on Monday, August 17th. Finally, National Bank Financial assumed coverage on MDA Space in a report on Monday, September 14th. They issued an “outperform” rating on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MDA. Pictet Asset Management Holding SA boosted its stake in shares of MDA Space by 8.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 28,589 shares of the company’s stock valued at $849,000 after purchasing an additional 2,256 shares during the last quarter. Tacita Capital Inc grew its position in shares of MDA Space by 16,480.0% during the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after buying an additional 2,472 shares during the period. Nykredit A S acquired a new stake in shares of MDA Space during the 2nd quarter worth approximately $124,000. Triasima Portfolio Management inc. raised its stake in shares of MDA Space by 2.7% during the third quarter. Triasima Portfolio Management inc. now owns 198,062 shares of the company’s stock worth $5,880,000 after buying an additional 5,143 shares during the last quarter. Finally, Amundi raised its stake in shares of MDA Space by 10.8% during the second quarter. Amundi now owns 55,138 shares of the company’s stock worth $2,276,000 after buying an additional 5,382 shares during the last quarter.

MDA Space Price Performance

Shares of MDA stock opened at $27.35 on Wednesday. MDA Space has a 1 year low of $23.23 and a 1 year high of $49.37. The firm’s 50 day moving average is $29.07 and its 200-day moving average is $33.35. The firm has a market capitalization of $4.44 billion and a price-to-earnings ratio of 50.65. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million for the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. Sell-side analysts forecast that MDA Space will post 0.96 EPS for the current fiscal year.

About MDA Space

MDA Space Ltd. is a Canadian space technology company that designs and delivers systems, products and services for government and commercial customers. Its activities span satellite communications, Earth observation, space robotics, geointelligence and lunar exploration, with capabilities covering mission planning, engineering, manufacturing and in-orbit support.

The company is known for developing space robotics and automation technologies, including systems used on the International Space Station, as well as satellite payloads, satellite subsystems and communications platforms.