MDA Space (NYSE:MDA) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• MDA Space beat quarterly earnings expectations, reporting EPS of $0.28 versus analysts’ estimate of $0.23, a $0.05 upside surprise.
• The stock rose 0.9% on Friday to $34.56, trading below its 12-month high of $37.45 but well above its low of $23.23.
• Analyst sentiment remains positive, with a consensus rating of “Buy” and a consensus price target of $37.50, including upgrades and buy ratings from several firms.

MDA Space (NYSE:MDA - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.05, Zacks reports.

MDA Space Stock Up 0.9%

MDA traded up $0.31 on Friday, hitting $34.56. The company's stock had a trading volume of 562,150 shares, compared to its average volume of 748,796. MDA Space has a 12 month low of $23.23 and a 12 month high of $37.45.

Wall Street Analysts Forecast Growth

MDA has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised shares of MDA Space to a "strong-buy" rating in a research report on Wednesday, April 22nd. Jefferies Financial Group assumed coverage on shares of MDA Space in a research note on Monday, April 6th. They issued a "buy" rating and a $41.00 price objective for the company. Weiss Ratings started coverage on shares of MDA Space in a research report on Wednesday, April 8th. They set a "buy (b-)" rating on the stock. Finally, JPMorgan Chase & Co. initiated coverage on MDA Space in a research note on Monday, April 6th. They issued an "overweight" rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, MDA Space currently has a consensus rating of "Buy" and a consensus price target of $37.50.

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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