MDA Space (NYSE:MDA) Posts Quarterly Earnings Results

MDA Space (NYSE:MDA) announced its quarterly earnings results on Friday. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02, Zacks reports. MDA Space had a return on equity of 8.72% and a net margin of 6.04%.

MDA Space Stock Up 1.1%

Shares of MDA Space stock traded up $0.39 on Friday, hitting $34.65. The stock had a trading volume of 1,804,061 shares, compared to its average volume of 1,677,780. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.80. MDA Space has a one year low of $23.23 and a one year high of $49.37. The firm has a market cap of $5.62 billion and a PE ratio of 123.75. The firm has a 50-day moving average of $36.00.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, ATB Cormark Capital Markets cut shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, MDA Space currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

About MDA Space

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.