MDA Space (TSE:MDA) Trading Up 4% – Time to Buy?

MDA Space Ltd. (TSE:MDA) shares shot up 4% during mid-day trading on Wednesday . The company traded as high as C$64.90 and last traded at C$64.28. 337,156 shares changed hands during trading, a decline of 70% from the average session volume of 1,126,565 shares. The stock had previously closed at C$61.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Scotiabank upgraded MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Canaccord Genuity Group set a C$56.00 target price on shares of MDA Space and gave the company a “buy” rating in a report on Wednesday, April 22nd. Morgan Stanley raised their price target on shares of MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. ATB Cormark Capital Markets reduced their price objective on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, BMO Capital Markets increased their price target on MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. Four equities research 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.com, MDA Space has an average rating of “Buy” and a consensus target price of C$53.60.

MDA Space Trading Up 4.7%

The business has a 50 day moving average price of C$46.22 and a 200-day moving average price of C$36.80. The firm has a market cap of C$9.31 billion, a price-to-earnings ratio of 83.91 and a beta of -0.92. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The firm 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 expect that MDA Space Ltd. will post 0.9605084 EPS for the current fiscal 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.