The Manufacturers Life Insurance Company acquired a new stake in MDA Space Ltd. (NYSE:MDA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 124,010 shares of the company's stock, valued at approximately $5,114,000. The Manufacturers Life Insurance Company owned approximately 0.08% of MDA Space at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of MDA. Van ECK Associates Corp acquired a new stake in MDA Space during the 2nd quarter worth approximately $135,771,000. Tidal Investments LLC purchased a new stake in MDA Space during the second quarter worth approximately $53,428,000. Caisse de depot et placement du Quebec increased its position in shares of MDA Space by 13.7% in the second quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company's stock worth $32,457,000 after acquiring an additional 94,799 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of MDA Space in the second quarter worth $28,441,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of MDA Space in the 2nd quarter valued at $15,665,000.
MDA Space Stock Performance
Shares of NYSE MDA opened at $28.93 on Monday. MDA Space Ltd. has a 1 year low of $23.23 and a 1 year high of $49.37. The stock has a market capitalization of $4.69 billion and a price-to-earnings ratio of 53.57. 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 stock's 50-day simple moving average is $31.95.
MDA Space (NYSE:MDA - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating 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 firm had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. As a group, research analysts predict that MDA Space Ltd. will post 0.96 EPS for the current year.
Analysts Set New Price Targets
A number of analysts recently weighed in on MDA shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $49.00 price target on shares of MDA Space in a research report on Tuesday, August 11th. Royal Bank Of Canada reissued an "outperform" rating and issued a $60.00 price objective on shares of MDA Space in a research report on Monday, August 17th. Scotiabank restated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. JPMorgan Chase & Co. upped their target price on MDA Space from $43.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.00.
Read Our Latest Research Report on MDA
About MDA Space
(
Free Report)
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.
Further Reading
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