MDA Space Ltd. (NYSE:MDA) Stock Rated “Moderate Buy” by Wall Street Analysts

MDA Space Ltd. (NYSE:MDA) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $50.00.

MDA has been the subject of several research reports. Weiss Ratings lowered shares of MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Scotiabank restated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 price target on shares of MDA Space in a research report on Monday, August 10th.

MDA Space Price Performance

Shares of MDA opened at $28.18 on Friday. The company has a market capitalization of $4.57 billion and a price-to-earnings ratio of 52.19. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. MDA Space has a one year low of $23.23 and a one year high of $49.37. The business has a fifty day moving average price of $30.87.

MDA Space (NYSE:MDA) last announced its earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million for the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. Analysts expect that MDA Space will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On MDA Space

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp bought a new stake in MDA Space during the second quarter valued at about $135,771,000. Tidal Investments LLC bought a new position in shares of MDA Space in the second quarter worth about $53,428,000. Caisse de depot et placement du Quebec raised its stake in shares of MDA Space by 13.7% in 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 during the period. TD Waterhouse Canada Inc. purchased a new position in shares of MDA Space during the 2nd quarter valued at about $28,441,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of MDA Space during the 2nd quarter valued at about $15,665,000.

About MDA Space

MDA Space is a Canadian space technology company that develops and delivers systems, products and services for government and commercial customers. Its capabilities span satellite communications, Earth observation, space robotics, geointelligence and space exploration.

The company designs and builds satellite systems and payloads, robotics and servicing technologies, and data and analytics solutions. Its historical work includes major contributions to the Canadarm, Canadarm2 and Dextre robotic systems used in space, as well as technologies supporting Earth-observation programs such as RADARSAT.

Headquartered in Brampton, Ontario, MDA Space serves customers in Canada and international markets.