MDA Space (TSE:MDA) Reaches New 12-Month High on Analyst Upgrade

Shares of MDA Space Ltd. (TSE:MDA) hit a new 52-week high during trading on Friday after Royal Bank of Canada raised their price target on the stock from C$18.00 to C$20.00. The stock traded as high as C$16.96 and last traded at C$16.94, with a volume of 126517 shares traded. The stock had previously closed at C$16.44.

Other equities analysts also recently issued research reports about the stock. Cormark lifted their target price on shares of MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. Scotiabank lifted their target price on shares of MDA Space from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th.

Insider Transactions at MDA Space

In other MDA Space news, Director Karl W. Smith acquired 3,244 shares of the stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of C$14.83 per share, for a total transaction of C$48,120.20. In other MDA Space news, Director John Carter Risley sold 22,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. Also, Director Karl W. Smith acquired 3,244 shares of MDA Space stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of C$14.83 per share, for a total transaction of C$48,120.20. Company insiders own 12.61% of the company’s stock.

MDA Space Stock Up 3.0 %

The company’s 50-day moving average is C$14.38 and its 200 day moving average is C$13.87. The company has a market capitalization of C$2.03 billion, a PE ratio of 44.00 and a beta of -0.02. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00.

MDA Space (TSE:MDA) last posted its earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.10 by C$0.09. The business had revenue of C$242.00 million for the quarter, compared to analysts’ expectations of C$221.34 million. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. As a group, analysts anticipate that MDA Space Ltd. will post 0.9875297 EPS for the current 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.