MDA Space Ltd. (NYSE:MDA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MDA Space Ltd. (NYSE:MDA) has earned an average rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $50.00.

A number of equities analysts have issued reports on MDA shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of MDA Space in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a research report on Monday, August 17th. Finally, ATB Cormark Capital Markets lowered shares of MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th.

Institutional Trading of MDA Space

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in MDA Space in the second quarter valued at approximately $4,931,000. Caisse de depot et placement du Quebec grew its position in MDA Space by 13.7% in the second quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock worth $32,457,000 after acquiring an additional 94,799 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in MDA Space during the second quarter worth $5,114,000. TD Waterhouse Canada Inc. acquired a new stake in MDA Space during the second quarter worth $28,441,000. Finally, Allianz Asset Management GmbH purchased a new stake in MDA Space in the second quarter valued at $15,665,000.

MDA Space Stock Down 0.3%

Shares of MDA stock opened at $28.89 on Tuesday. MDA Space has a 52-week low of $23.23 and a 52-week high of $49.37. The firm has a market cap of $4.68 billion and a PE ratio of 53.50. The company has a 50-day moving average of $31.70. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The business had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. Sell-side analysts anticipate that MDA Space will post 0.96 earnings per share for the current fiscal year.

MDA Space Company Profile

MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.

Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.

The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.