MDA Space Ltd. (NYSE:MDA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of MDA Space Ltd. (NYSE:MDA) have earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $50.00.

Several equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price target on shares of MDA Space in a report on Tuesday, August 11th. National Bank Financial initiated coverage on MDA Space in a research report on Monday, September 14th. They set an “outperform” rating for the company. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 price target on shares of MDA Space in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their price objective on MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th.

MDA Space Stock Performance

NYSE:MDA opened at $31.75 on Tuesday. The stock has a market cap of $5.15 billion and a price-to-earnings ratio of 58.80. The firm’s fifty day moving average is $31.11. MDA Space has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. 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 (NYSE:MDA) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The company had revenue of $360.18 million during the quarter, compared to analyst estimates of $321.87 million. Equities analysts forecast that MDA Space will post 0.96 EPS for the current year.

Institutional Trading of MDA Space

A number of large investors have recently made changes to their positions in MDA. Tacita Capital Inc increased its stake in MDA Space by 16,480.0% in the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after buying an additional 2,472 shares during the period. Nykredit A S bought a new position in MDA Space in the 2nd quarter worth about $124,000. Capstone Investment Advisors LLC bought a new position in MDA Space in the 2nd quarter worth about $276,000. Citizens Financial Group Inc. RI purchased a new position in shares of MDA Space during the second quarter worth approximately $388,000. Finally, Quantbot Technologies LP bought a new stake in shares of MDA Space during the second quarter valued at approximately $593,000.

About MDA Space

MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.

Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.

The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.