MDA Space Ltd. (NYSE:MDA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MDA Space Ltd. (NYSE:MDA) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $50.00.

A number of analysts have recently commented on MDA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Scotiabank restated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $49.00 target price on shares of MDA Space in a report on Tuesday, August 11th. Finally, ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th.

MDA Space Price Performance

Shares of MDA Space stock opened at $31.22 on Friday. The firm has a 50 day moving average of $34.94. The firm has a market capitalization of $5.06 billion and a price-to-earnings ratio of 57.81. MDA Space has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The firm had revenue of $360.18 million during the quarter, compared to analyst estimates of $321.87 million. On average, sell-side analysts expect that MDA Space will post 0.98 EPS for the current year.

Hedge Funds Weigh In On MDA Space

A number of institutional investors have recently added to or reduced their stakes in MDA. Tacita Capital Inc raised its position in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after acquiring an additional 2,472 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of MDA Space in the 2nd quarter valued at about $276,000. Citizens Financial Group Inc. RI bought a new position in shares of MDA Space in the 2nd quarter valued at about $388,000. Quantbot Technologies LP acquired a new position in shares of MDA Space during the 2nd quarter worth about $593,000. Finally, SCS Capital Management LLC acquired a new position in shares of MDA Space during the 2nd quarter worth about $1,003,000.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.