MDA Space (TSE:MDA) Shares Up 4.6% – Here’s What Happened

MDA Space Ltd. (TSE:MDA)’s share price shot up 4.6% on Friday . The company traded as high as C$31.73 and last traded at C$31.69. 944,400 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 926,460 shares. The stock had previously closed at C$30.31.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MDA. Scotiabank cut their price objective on shares of MDA Space from C$43.00 to C$40.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. BMO Capital Markets reduced their target price on MDA Space from C$36.00 to C$32.00 in a research report on Monday, November 17th. Stifel Nicolaus set a C$48.00 price target on MDA Space and gave the company a “buy” rating in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on MDA Space from C$45.00 to C$38.00 in a research report on Monday, November 17th. Finally, Stifel Canada upgraded shares of MDA Space to a “strong-buy” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, MDA Space presently has a consensus rating of “Buy” and a consensus price target of C$39.71.

MDA Space Stock Up 13.0%

The stock has a market capitalization of C$4.52 billion, a P/E ratio of 42.13 and a beta of -1.15. The stock has a 50 day moving average price of C$25.40 and a 200-day moving average price of C$33.54. The company has a debt-to-equity ratio of 34.94, a current ratio of 0.83 and a quick ratio of 1.00.

MDA Space (TSE:MDA) last posted its quarterly earnings results on Friday, November 14th. The company reported C$0.35 EPS for the quarter. The company had revenue of C$409.80 million during the quarter. MDA Space had a net margin of 7.22% and a return on equity of 6.17%. As a group, research analysts expect that MDA Space Ltd. will post 0.9605084 EPS for the current fiscal year.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.