MDA Space (NYSE:MDA) Issues Earnings Results

MDA Space (NYSE:MDA) issued its quarterly earnings results on Friday. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02, Zacks reports. The business had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a return on equity of 8.72% and a net margin of 6.04%.

MDA Space Stock Performance

Shares of MDA Space stock traded up $0.39 during trading on Friday, hitting $34.65. 1,804,061 shares of the company’s stock were exchanged, compared to its average volume of 1,677,780. The company has a market cap of $5.62 billion and a PE ratio of 123.75. The firm’s 50-day simple moving average is $36.00. MDA Space has a 52-week low of $23.23 and a 52-week high of $49.37. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

Several research firms have recently issued reports on MDA. Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. upped their price target on shares of MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, ATB Cormark Capital Markets cut shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.67.

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.