MDA Space (TSE:MDA) Sets New 1-Year High on Analyst Upgrade

MDA Space Ltd. (TSE:MDA)’s share price reached a new 52-week high during mid-day trading on Friday after Scotiabank raised their price target on the stock from C$22.00 to C$25.00. Scotiabank currently has an outperform rating on the stock. MDA Space traded as high as C$22.72 and last traded at C$22.72, with a volume of 115414 shares changing hands. The stock had previously closed at C$21.30.

A number of other analysts have also recently weighed in on MDA. Cormark upped their price target on shares of MDA Space from C$19.00 to C$21.00 in a research report on Friday, August 9th. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research note on Wednesday. Canaccord Genuity Group raised their target price on MDA Space from C$18.00 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their target price on MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$19.13.

Insider Activity at MDA Space

In other news, Director Karl W. Smith bought 3,244 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of C$14.83 per share, for a total transaction of C$48,120.20. In other MDA Space news, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Also, Director Karl W. Smith acquired 3,244 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average price of C$14.83 per share, with a total value of C$48,120.20. Insiders have sold a total of 199,220 shares of company stock worth $3,285,909 in the last ninety days. 12.60% of the stock is owned by insiders.

MDA Space Stock Up 10.4 %

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79. The company has a market capitalization of C$2.82 billion, a price-to-earnings ratio of 61.87 and a beta of 0.02. The business has a 50-day moving average price of C$18.28 and a 200-day moving average price of C$15.00.

MDA Space (TSE:MDA) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating analysts’ consensus estimates of C$0.10 by C$0.09. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. The company had revenue of C$242.00 million during the quarter, compared to analyst estimates of C$221.34 million. As a group, equities analysts anticipate that MDA Space Ltd. will post 0.9605084 earnings per share for the current fiscal year.

MDA Space Company Profile

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.