MDA Space Ltd. (NYSE:MDA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• MDA Space has a “Moderate Buy” consensus rating from 10 analysts: six buys, three holds, and one strong buy. The average 12-month price target is $50, compared with the stock’s recent price of $31.22.
• The company exceeded quarterly expectations, reporting adjusted earnings of $0.26 per share versus the $0.24 consensus and revenue of $360.18 million versus $321.87 million expected.
• Shares were down 3.7% and trading well below their 12-month high of $49.37, while institutional investors including Van ECK Associates and Quebec’s Caisse de dépôt et placement recently initiated or increased positions.

MDA Space Ltd. (NYSE:MDA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $50.00.

MDA has been the topic of a number of recent analyst reports. Scotiabank restated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Zacks Research upgraded MDA Space from a "strong sell" rating to a "hold" rating in a report on Thursday, June 11th. JPMorgan Chase & Co. raised their price objective on shares of MDA Space from $43.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Weiss Ratings lowered MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday.

Institutional Trading of MDA Space

Large investors have recently made changes to their positions in the stock. SCS Capital Management LLC bought a new stake in MDA Space during the second quarter worth approximately $1,003,000. Van ECK Associates Corp acquired a new position in shares of MDA Space during the second quarter valued at about $135,771,000. Capstone Investment Advisors LLC bought a new stake in shares of MDA Space in the 2nd quarter worth approximately $276,000. Caisse de depot et placement du Quebec boosted its stake 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 worth $32,457,000 after buying an additional 94,799 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in MDA Space by 10.7% in the second quarter. Legal & General Group Plc now owns 133,893 shares of the company's stock valued at $5,530,000 after acquiring an additional 12,889 shares during the period.

MDA Space Trading Down 3.7%

Shares of NYSE MDA opened at $31.22 on Friday. MDA Space has a 12-month low of $23.23 and a 12-month high of $49.37. The company has a market cap of $5.06 billion and a P/E ratio of 57.81. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $34.94.

MDA Space (NYSE:MDA - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $360.18 million for the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. As a group, equities analysts forecast that MDA Space will post 0.98 earnings per share for the current fiscal year.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.

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