MDA Space Ltd. (TSE:MDA) Receives Average Recommendation of “Buy” from Analysts

MDA Space Ltd. (TSE:MDA) has been given a consensus rating of “Buy” by the ten research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$51.33.

MDA has been the subject of several research analyst reports. Scotia increased their target price on shares of MDA Space from C$49.00 to C$53.00 and gave the stock a “sector outperform” rating in a research note on Friday. Desjardins increased their target price on shares of MDA Space from C$53.00 to C$55.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research note on Monday, April 6th. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Stifel Nicolaus increased their target price on shares of MDA Space from C$48.00 to C$57.00 in a research note on Thursday, March 5th.

MDA Space News Roundup

Here are the key news stories impacting MDA Space this week:

• Positive Sentiment: Morgan Stanley raised its price target on MDA Space to C$58.00 from C$51.00, implying meaningful upside and reinforcing bullish sentiment after the company’s results. BayStreet.CA
• Positive Sentiment: Scotia lifted its target to C$53.00 from C$49.00 and maintained a “sector outperform” view, signaling confidence in the stock’s outlook. BayStreet.CA
• Positive Sentiment: Desjardins increased its price target to C$55.00 from C$53.00 and kept a “buy” rating, adding to the cluster of upbeat analyst calls. BayStreet.CA
• Positive Sentiment: ATB Cormark trimmed its target slightly to C$53.00 from C$54.00, but still maintained an “outperform” rating, which remains supportive of the stock. BayStreet.CA
• Positive Sentiment: The company reported Q1 revenue of C$464.1 million, up more than 30% year over year, and posted C$0.38 in EPS, showing strong top-line growth and solid profitability. Earnings transcript
• Positive Sentiment: Management also said there is strong early demand for its Earth observation data, suggesting another growth avenue beyond its core aerospace programs. MSN
• Positive Sentiment: MDA said it is moving “full steam ahead” on Canadarm3 even after the space station cancellation, reducing fears that the program setback will derail a key long-term contract opportunity. BetaKit

MDA Space Price Performance

MDA Space stock opened at C$47.26 on Wednesday. MDA Space has a 12-month low of C$20.85 and a 12-month high of C$50.98. The stock has a market cap of C$6.55 billion, a P/E ratio of 56.26 and a beta of -0.92. The company has a 50-day moving average price of C$42.03 and a 200 day moving average price of C$34.15. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62.

MDA Space (TSE:MDA) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The firm had revenue of C$464.10 million during the quarter. Sell-side analysts anticipate that MDA Space will post 0.9605084 earnings per share 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.