MDA Space (NYSE:MDA) Receives “Outperform” Rating from Royal Bank Of Canada

MDA Space (NYSE:MDA)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $60.00 price objective on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 66.20% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. ATB Cormark Capital Markets cut MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. JPMorgan Chase & Co. boosted their price target on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Canaccord Genuity Group upgraded MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $49.00 price objective on shares of MDA Space in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.25.

MDA Space Stock Performance

NYSE:MDA traded up $0.89 during mid-day trading on Monday, hitting $36.10. 111,587 shares of the company’s stock traded hands, compared to its average volume of 1,238,839. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $5.85 billion and a P/E ratio of 66.85. The business has a 50 day simple moving average of $35.39. MDA Space has a 1 year low of $23.23 and a 1 year high of $49.37.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating 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 business had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. On average, research analysts expect that MDA Space will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDA. BlackRock Inc. purchased a new position in shares of MDA Space during the 2nd quarter worth $4,931,000. Caisse de depot et placement du Quebec grew its position 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 valued at $32,457,000 after purchasing an additional 94,799 shares during the period. Cibc World Market Inc. grew its position in shares of MDA Space by 15.0% in the second quarter. Cibc World Market Inc. now owns 201,121 shares of the company’s stock valued at $8,303,000 after purchasing an additional 26,193 shares during the period. Deutsche Bank AG increased its stake in MDA Space by 85.9% in the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after purchasing an additional 25,197 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new position in MDA Space in the second quarter valued at $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.