MDA Space (TSE:MDA) Stock Price Down 8.8% - What's Next?

Key Points

• Shares of MDA Space were trading down about 8.8% mid-day to C$40.83 (low C$40.52) on volume of 741,133 shares, roughly 31% below the average session volume and off a prior close of C$44.76.
• Analysts are largely positive, with multiple recent upgrades and an average rating of Buy and a consensus price target of C$48.14, implying upside from current levels.
• Financials show a relatively rich valuation and mixed fundamentals — market cap C$5.16B, P/E 48.5, quarterly EPS C$0.45 on C$499.1M revenue, but tight liquidity with a current ratio 0.47.

Shares of MDA Space Ltd. (TSE:MDA - Get Free Report) fell 8.8% during mid-day trading on Tuesday . The stock traded as low as C$40.52 and last traded at C$40.83. 741,133 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 1,069,618 shares. The stock had previously closed at C$44.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Scotiabank upgraded MDA Space to a "strong-buy" rating in a research note on Thursday, March 19th. Morgan Stanley raised MDA Space from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from C$32.00 to C$46.00 in a report on Friday, January 16th. BMO Capital Markets upped their price objective on MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Finally, Desjardins increased their target price on MDA Space from C$51.00 to C$53.00 and gave the company a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of C$48.14.

MDA Space Trading Down 9.0%

The company has a market capitalization of C$5.16 billion, a P/E ratio of 48.50 and a beta of -1.20. The company has a debt-to-equity ratio of 30.34, a quick ratio of 1.00 and a current ratio of 0.47. The stock has a fifty day moving average of C$38.77 and a 200 day moving average of C$32.55.

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

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators. AURORA technology enables constellations to extend communication networks to every corner of the globe with digital automation, and robotics.

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