What is Cormark’s Estimate for MDA Space FY2024 Earnings?

MDA Space Ltd. (TSE:MDA) – Equities research analysts at Cormark boosted their FY2024 EPS estimates for MDA Space in a research report issued to clients and investors on Thursday, January 30th. Cormark analyst D. Mcfadgen now forecasts that the company will post earnings of $0.93 per share for the year, up from their prior estimate of $0.92. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share.

Other equities research analysts also recently issued research reports about the company. Ci Capital increased their price target on MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of MDA Space from C$28.00 to C$30.00 in a research report on Wednesday, November 20th. Desjardins raised shares of MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on shares of MDA Space from C$30.00 to C$34.00 in a report on Friday, December 13th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$31.29.

MDA Space Price Performance

Shares of MDA Space stock opened at C$23.06 on Monday. The company has a 50-day simple moving average of C$27.96 and a two-hundred day simple moving average of C$21.34. MDA Space has a twelve month low of C$11.08 and a twelve month high of C$30.00. The stock has a market capitalization of C$2.77 billion, a price-to-earnings ratio of 60.68 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.

Insider Activity at MDA Space

In other news, Director Michael Philip Greenley sold 9,700 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$28.60, for a total transaction of C$277,420.00. Also, Director John Carter Risley sold 61,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$28.06, for a total value of C$1,711,660.00. In the last three months, insiders have sold 361,300 shares of company stock valued at $10,285,710. 12.60% of the stock is owned by insiders.

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.