MDA Space (TSE:MDA) Trading Up 6% – Still a Buy?

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

Analysts Set New Price Targets

MDA has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. ATB Cormark Capital Markets dropped their price target 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. Morgan Stanley raised MDA Space from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from C$32.00 to C$46.00 in a research note on Friday, January 16th. Canaccord Genuity Group lifted their target price on MDA Space from C$37.00 to C$51.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, BMO Capital Markets boosted their target price on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$47.88.

MDA Space Stock 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 50 day moving average price is C$39.11 and its 200-day moving average price is C$32.75. The firm has a market capitalization of C$5.16 billion, a price-to-earnings ratio of 45.06 and a beta of -1.20.

MDA Space (TSE:MDA) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C$0.45 EPS for the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. The firm had revenue of C$499.10 million during the quarter. Equities analysts forecast that MDA Space Ltd. will post 0.9605084 EPS for the current fiscal 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.