Cormark Has Positive Forecast for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Stock analysts at Cormark increased their FY2024 earnings estimates for MDA Space in a research report issued to clients and investors on Monday, November 18th. Cormark analyst D. Mcfadgen now anticipates that the company will post earnings per share of $0.93 for the year, up from their previous estimate of $0.91. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share. Cormark also issued estimates for MDA Space’s FY2026 earnings at $1.24 EPS.

Several other equities research analysts have also recently weighed in on MDA. BMO Capital Markets upgraded shares of MDA Space from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of MDA Space from C$28.00 to C$30.00 in a report on Wednesday. Scotiabank lifted their price objective on shares of MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Ci Capital lifted their price objective on shares of MDA Space from C$15.00 to C$26.00 in a report on Monday. Finally, Desjardins raised shares of MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$27.83.

MDA Space Trading Down 0.3 %

MDA opened at C$26.46 on Thursday. MDA Space has a twelve month low of C$10.65 and a twelve month high of C$27.47. 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 fifty day moving average of C$20.47 and a 200-day moving average of C$15.84. The stock has a market cap of C$3.18 billion, a PE ratio of 69.84 and a beta of 0.02.

Insiders Place Their Bets

In other news, Director John Carter Risley sold 22,500 shares of MDA Space stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total value of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction dated 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. Over the last 90 days, insiders have sold 198,920 shares of company stock valued at $3,281,370. Company 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.