MDA Space Ltd. (NYSE:MDA) Given Consensus Rating of “Moderate Buy” by Brokerages

MDA Space Ltd. (NYSE:MDA) has earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $50.00.

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Weiss Ratings lowered shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $49.00 price objective on shares of MDA Space in a report on Tuesday, August 11th.

MDA Space Price Performance

NYSE MDA opened at $30.40 on Friday. The firm has a market cap of $4.93 billion and a P/E ratio of 56.30. 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 firm has a fifty day moving average price of $34.12. MDA Space has a 1 year low of $23.23 and a 1 year high of $49.37.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $360.18 million during the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. Research analysts expect that MDA Space will post 0.95 earnings per share for the current year.

Hedge Funds Weigh In On MDA Space

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tacita Capital Inc grew its holdings in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares during the period. Nykredit A S purchased a new position in MDA Space during the second quarter valued at approximately $124,000. Amundi lifted its holdings in MDA Space by 10.8% in the second quarter. Amundi now owns 55,138 shares of the company’s stock valued at $2,276,000 after acquiring an additional 5,382 shares during the period. Capstone Investment Advisors LLC acquired a new position in MDA Space in the second quarter valued at approximately $276,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in MDA Space in the 2nd quarter worth approximately $388,000.

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.