Desjardins Has Strong Forecast for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Investment analysts at Desjardins upped their FY2024 earnings per share estimates for shares of MDA Space in a report released on Sunday, November 17th. Desjardins analyst B. Poirier now forecasts that the company will post earnings of $0.93 per share for the year, up from their previous estimate of $0.87. Desjardins currently has a “Moderate Buy” rating on the stock. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share. Desjardins also issued estimates for MDA Space’s Q4 2024 earnings at $0.31 EPS, FY2025 earnings at $1.35 EPS and FY2026 earnings at $1.60 EPS.

MDA has been the subject of a number of other reports. Ci Capital lifted their price objective on MDA Space from C$15.00 to C$26.00 in a report on Monday. Cormark boosted their price objective on MDA Space from C$30.00 to C$31.00 in a report on Monday. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$15.00 to C$28.00 in a research note on Monday, November 4th. Canaccord Genuity Group upped their target price on shares of MDA Space from C$21.00 to C$27.00 in a research note on Monday, November 4th. Finally, Royal Bank of Canada lifted their price objective on MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, MDA Space presently has an average rating of “Buy” and a consensus target price of C$26.17.

MDA Space Stock Performance

The firm has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 67.63 and a beta of 0.02. 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 50 day moving average price of C$20.25 and a two-hundred day moving average price of C$15.76. MDA Space has a 12 month low of C$10.65 and a 12 month high of C$27.05.

Insiders Place Their Bets

In other news, Director Michael Philip Greenley sold 175,000 shares of the firm’s stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. Also, Director John Carter Risley sold 22,500 shares of MDA Space stock in a transaction that occurred 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. Insiders sold 198,920 shares of company stock worth $3,281,370 over the last three months. Insiders own 12.60% of the company’s stock.

About MDA Space

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.