SCS Capital Management LLC Acquires Shares of 24,300 MDA Space Ltd. $MDA

SCS Capital Management LLC acquired a new stake in MDA Space Ltd. (NYSE:MDA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,300 shares of the company’s stock, valued at approximately $1,003,000.

MDA Space Stock Up 0.0%

Shares of NYSE:MDA opened at $35.22 on Monday. MDA Space Ltd. has a 12-month low of $23.23 and a 12-month high of $49.37. The stock’s 50 day moving average price is $35.39. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.71 billion and a PE ratio of 65.22.

MDA Space (NYSE:MDA) last announced its earnings results on Friday, August 7th. The company reported $0.26 earnings per share 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 return on equity of 9.42% and a net margin of 5.68%. Equities research analysts expect that MDA Space Ltd. will post 0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDA. Zacks Research raised MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Royal Bank Of Canada raised their price target on MDA Space from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Canaccord Genuity Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.25.

About MDA Space

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.