MDA Space (TSE:MDA) Shares Up 6% - Here's Why

Key Points

• 6% surge in MDA shares to C$38.18 (intraday high C$38.80) on Thursday amid lighter-than-average volume, driven by multiple analyst upgrades and higher price targets; consensus rating is Buy with an average target of C$47.88.
• MDA has a C$5.15 billion market cap and a high P/E (~44.9), reporting quarterly EPS of C$0.45 on C$499.1M revenue, while leverage/liquidity metrics include a debt-to-equity of 30.34 and a low current ratio of 0.47.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) rose 6% during trading on Thursday . The stock traded as high as C$38.80 and last traded at C$38.18. Approximately 433,141 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 1,132,962 shares. The stock had previously closed at C$36.01.

Analysts Set New Price Targets

Several research firms have issued reports on MDA. Morgan Stanley upgraded shares of MDA Space from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from C$32.00 to C$46.00 in a report on Friday, January 16th. Canaccord Genuity Group upped their price objective on shares of MDA Space from C$37.00 to C$51.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. BMO Capital Markets increased their price objective on shares of MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Stifel Nicolaus lifted their target price on shares of MDA Space from C$48.00 to C$57.00 in a research note on Thursday, March 5th. Finally, Desjardins boosted their target price on shares of MDA Space from C$51.00 to C$53.00 and gave the company a "buy" rating in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$47.88.

MDA Space Stock Performance

The company has a debt-to-equity ratio of 30.34, a current ratio of 0.47 and a quick ratio of 1.00. The stock has a fifty day simple moving average of C$39.06 and a two-hundred day simple moving average of C$32.68. The firm has a market capitalization of C$5.15 billion, a P/E ratio of 44.93 and a beta of -1.20.

MDA Space (TSE:MDA - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C$0.45 earnings per share (EPS) for the quarter. The firm had revenue of C$499.10 million for the quarter. MDA Space had a return on equity of 8.38% and a net margin of 6.64%. On average, research analysts predict that MDA Space Ltd. will post 0.9605084 EPS for the current year.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission - bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one.

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