MDA Space Ltd. (NYSE:MDA) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate MDA Space “Moderate Buy,” with seven buys, three holds and one strong buy among 11 analysts. The average 12-month price target is $50, with targets ranging from $41 to $60.
• Institutional interest has increased, including new positions from VanECK Associates, Tidal Investments, TD Waterhouse and Allianz Asset Management; Caisse de dépôt et placement du Québec also raised its stake by 13.7%.
• MDA Space exceeded quarterly expectations, reporting EPS of $0.26 versus $0.24 expected and revenue of $360.18 million versus the $321.87 million consensus estimate. Shares opened at $28.18, well below their 52-week high of $49.37.

Shares of MDA Space Ltd. (NYSE:MDA - Get Free Report) have received an average rating of "Moderate Buy" from the eleven research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $50.00.

MDA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of MDA Space from $43.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Scotiabank reiterated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th. Finally, Weiss Ratings cut MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th.

Hedge Funds Weigh In On MDA Space

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp bought a new stake in shares of MDA Space in the second quarter worth approximately $135,771,000. Tidal Investments LLC bought a new position in MDA Space during the second quarter valued at approximately $53,428,000. Caisse de depot et placement du Quebec lifted its position in MDA Space by 13.7% during the second quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company's stock valued at $32,457,000 after purchasing an additional 94,799 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in MDA Space in the second quarter worth approximately $28,441,000. Finally, Allianz Asset Management GmbH purchased a new stake in MDA Space in the second quarter worth approximately $15,665,000.

MDA Space Stock Performance

NYSE:MDA opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $4.57 billion and a price-to-earnings ratio of 52.19. MDA Space has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. The company's 50-day moving average price is $30.87.

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

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and delivers systems, products and services for government and commercial customers. Its capabilities span satellite communications, Earth observation, space robotics, geointelligence and space exploration.

The company designs and builds satellite systems and payloads, robotics and servicing technologies, and data and analytics solutions. Its historical work includes major contributions to the Canadarm, Canadarm2 and Dextre robotic systems used in space, as well as technologies supporting Earth-observation programs such as RADARSAT.

Headquartered in Brampton, Ontario, MDA Space serves customers in Canada and international markets.

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