MDA Space’s (MDA) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of MDA Space (NYSE:MDA) in a research report released on Monday,Benzinga reports. They currently have a $60.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th. Weiss Ratings upgraded MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Zacks Research raised MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $41.00 price objective on shares of MDA Space in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

MDA Space Trading Down 5.1%

MDA stock opened at $32.28 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market capitalization of $5.23 billion and a P/E ratio of 59.78. The company has a 50 day moving average price of $35.14. MDA Space has a twelve month low of $23.23 and a twelve month high of $49.37.

MDA Space (NYSE:MDA) last announced its earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The business had revenue of $360.18 million for the quarter, compared to analysts’ expectations of $321.87 million. Research analysts predict that MDA Space will post 0.98 EPS for the current fiscal year.

Institutional Trading of MDA Space

Several hedge funds have recently made changes to their positions in MDA. Tacita Capital Inc increased its stake in shares of 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. Capstone Investment Advisors LLC purchased a new position in MDA Space during the second quarter worth about $276,000. Citizens Financial Group Inc. RI acquired a new stake in MDA Space in the second quarter valued at about $388,000. Quantbot Technologies LP acquired a new stake in MDA Space in the second quarter valued at about $593,000. Finally, SCS Capital Management LLC purchased a new stake in MDA Space in the 2nd quarter valued at approximately $1,003,000.

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.