MDA Space Ltd. (NYSE:MDA) Stock Has Consensus Price Target of $50.00 According to Analysts

Shares of MDA Space Ltd. (NYSE:MDA) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, 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 objective among brokers that have issued a report on the stock in the last year is $48.50.

MDA has been the subject of a number of research reports. National Bank Financial initiated coverage on MDA Space in a research note on Monday, September 14th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lowered their target price on MDA Space from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Jefferies Financial Group reissued a “buy” rating on shares of MDA Space in a research report on Tuesday, October 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th.

MDA Space Price Performance

Shares of MDA opened at $30.92 on Wednesday. MDA Space has a 12 month low of $23.23 and a 12 month high of $49.37. The stock’s 50-day moving average price is $28.99 and its two-hundred day moving average price is $33.19. The company has a quick ratio of 2.07, a current ratio of 2.10 and a debt-to-equity ratio of 0.31.

MDA Space (NYSE:MDA) last announced its earnings results on Thursday, November 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. MDA Space had a return on equity of 9.21% and a net margin of 5.75%. As a group, research analysts expect that MDA Space will post 0.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tacita Capital Inc increased its holdings 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 acquiring an additional 2,472 shares during the last quarter. Nykredit A S bought a new position in shares of MDA Space in the second quarter valued at approximately $124,000. Russell Investments Group Ltd. bought a new position in shares of MDA Space in the third quarter valued at approximately $190,000. Citizens Financial Group Inc. RI purchased a new position in MDA Space during the third quarter valued at approximately $234,000. Finally, Capstone Investment Advisors LLC purchased a new position in MDA Space during the second quarter valued at approximately $276,000.

MDA Space Company Profile

MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit. The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.