MDA Space (TSE:MDA) Trading Up 4% – Time to Buy?

MDA Space Ltd. (TSE:MDA) shares rose 4% on Wednesday . The stock traded as high as C$64.90 and last traded at C$64.28. Approximately 337,156 shares were traded during trading, a decline of 70% from the average daily volume of 1,126,565 shares. The stock had previously closed at C$61.82.

Analyst Upgrades and Downgrades

MDA has been the topic of several recent research reports. ATB Cormark Capital Markets cut their price objective on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets raised their price objective on shares of MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Jefferies Financial Group raised shares of MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. Desjardins raised their price objective on shares of MDA Space from C$53.00 to C$55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Four research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, MDA Space has an average rating of “Buy” and a consensus target price of C$51.90.

MDA Space Stock Performance

The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. The firm has a fifty day simple moving average of C$45.33 and a 200 day simple moving average of C$36.21. The company has a market cap of C$8.92 billion, a price-to-earnings ratio of 80.33 and a beta of -0.92.

MDA Space (TSE:MDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The company had revenue of C$464.10 million for the quarter. On average, sell-side analysts expect that MDA Space Ltd. will post 0.9605084 earnings per share for the current fiscal year.

MDA Space Company Profile

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.