Royal Bank Of Canada Boosts MDA Space (NYSE:MDA) Price Target to $60.00

MDA Space (NYSE:MDA) had its price target upped by equities research analysts at Royal Bank Of Canada from $58.00 to $60.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 77.94% from the company’s current price.

A number of other research firms also recently weighed in on MDA. JPMorgan Chase & Co. increased their price objective on MDA Space from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Zacks Research raised MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Jefferies Financial Group raised MDA Space to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Canaccord Genuity Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

MDA Space Stock Down 2.5%

NYSE MDA traded down $0.87 on Monday, hitting $33.72. The company’s stock had a trading volume of 509,557 shares, compared to its average volume of 1,242,988. The stock’s 50-day simple moving average is $36.00. The company has a market capitalization of $5.47 billion and a price-to-earnings ratio of 120.43. MDA Space has a 1-year low of $23.23 and a 1-year high of $49.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 0.80.

MDA Space (NYSE:MDA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 10.01%. On average, equities analysts expect that MDA Space will post 0.99 EPS for the current year.

Hedge Funds Weigh In On MDA Space

A number of hedge funds have recently bought and sold shares of MDA. Citizens Financial Group Inc. RI acquired a new stake in MDA Space during the 2nd quarter worth about $388,000. SCS Capital Management LLC bought a new position in shares of MDA Space in the 2nd quarter worth about $1,003,000. Deutsche Bank AG lifted its stake in shares of MDA Space by 85.9% in the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after purchasing an additional 25,197 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of MDA Space in the 2nd quarter valued at about $4,931,000.

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.