MDA Space Ltd. (NYSE:MDA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on MDA Space, with seven buy ratings, one strong-buy rating and three holds. The average 12-month price target is $50.00, well above the reported $28.89 share price.
• MDA Space reported quarterly EPS of $0.26, exceeding the $0.24 consensus estimate, while revenue of $360.18 million topped expectations of $321.87 million.
• The stock has recently traded down 0.3% and has a market capitalization of approximately $4.68 billion, a P/E ratio of 53.50 and a 12-month trading range of $23.23 to $49.37.

Shares of MDA Space Ltd. (NYSE:MDA - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $50.00.

MDA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th. ATB Cormark Capital Markets downgraded shares of MDA Space from a "moderate buy" rating to a "hold" rating in a report on Friday, May 29th. Scotiabank reiterated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of MDA Space in a report on Monday, June 22nd.

MDA Space Trading Down 0.3%

NYSE:MDA opened at $28.89 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72. MDA Space has a 12-month low of $23.23 and a 12-month high of $49.37. The stock's 50-day simple moving average is $31.70. The stock has a market capitalization of $4.68 billion and a PE ratio of 53.50.

MDA Space (NYSE:MDA - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The company had revenue of $360.18 million for the quarter, compared to analysts' expectations of $321.87 million. On average, research analysts predict that MDA Space will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of MDA Space

A number of institutional investors have recently modified their holdings of the company. Tacita Capital Inc boosted its stake in MDA Space by 16,480.0% in the second quarter. Tacita Capital Inc now owns 2,487 shares of the company's stock valued at $103,000 after acquiring an additional 2,472 shares in the last quarter. Nykredit A S acquired a new stake in shares of MDA Space in the 2nd quarter worth $124,000. Capstone Investment Advisors LLC acquired a new stake in shares of MDA Space in the 2nd quarter worth $276,000. Citizens Financial Group Inc. RI purchased a new position in MDA Space during the 2nd quarter worth $388,000. Finally, Quantbot Technologies LP acquired a new position in MDA Space during the 2nd quarter valued at about $593,000.

MDA Space Company Profile

MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.

Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.

The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.

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