MDA Space (TSE:MDA) Stock Price Up 6% – Here’s Why

Shares of MDA Space Ltd. (TSE:MDA) traded up 6% during mid-day trading on Thursday . The company traded as high as C$38.80 and last traded at C$38.18. 433,141 shares traded hands during trading, a decline of 62% from the average session volume of 1,132,962 shares. The stock had previously closed at C$36.01.

Wall Street Analyst Weigh In

A number of analysts recently commented on MDA shares. Canaccord Genuity Group boosted their target price on MDA Space from C$37.00 to C$51.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Stifel Nicolaus increased their price target on MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. Desjardins raised their price objective on MDA Space from C$51.00 to C$53.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley upgraded MDA Space from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from C$32.00 to C$46.00 in a report on Friday, January 16th. Finally, ATB Cormark Capital Markets lowered their target price on MDA Space from C$61.00 to C$46.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$47.88.

MDA Space Price Performance

The company has a debt-to-equity ratio of 30.34, a current ratio of 0.47 and a quick ratio of 1.00. The business’s fifty day moving average price is C$39.06 and its 200-day moving average price is C$32.68. The stock has a market capitalization of C$5.15 billion, a price-to-earnings ratio of 44.93 and a beta of -1.20.

MDA Space (TSE:MDA) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C$0.45 earnings per share for the quarter. The business had revenue of C$499.10 million for the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. On average, research analysts forecast that MDA Space Ltd. will post 0.9605084 EPS for the current year.

About MDA Space

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.