MDA Space (TSE:MDA) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Shares of MDA Space Ltd. (TSE:MDA) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$40.70 and traded as high as C$43.65. MDA Space shares last traded at C$43.41, with a volume of 1,905,462 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. National Bank Financial set a C$55.00 price target on MDA Space and gave the company an “outperform” rating in a report on Tuesday, September 15th. Canaccord Genuity Group dropped their price objective on MDA Space from C$65.00 to C$64.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Desjardins increased their price objective on MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. ATB Cormark Capital Markets reduced their target price on MDA Space from C$51.00 to C$48.00 and set a “sector perform” rating for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada reduced their target price on MDA Space from C$60.00 to C$55.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$63.18.

MDA Space Stock Performance

The stock’s 50-day moving average price is C$40.70 and its 200-day moving average price is C$44.44. The company has a debt-to-equity ratio of 31.46, a quick ratio of 1.00 and a current ratio of 2.10. The company has a market capitalization of C$7.04 billion, a price-to-earnings ratio of 58.66 and a beta of -0.22.

MDA Space (TSE:MDA) last released its quarterly earnings results on Thursday, November 5th. The company reported C$0.37 earnings per share for the quarter. MDA Space had a return on equity of 5.52% and a net margin of 5.73%. The business had revenue of C$498.10 million for the quarter. As a group, equities research analysts expect that MDA Space Ltd. will post 0.96 earnings per share for the current 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.