MDA Space (NYSE:MDA) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of MDA Space (NYSE:MDA) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other analysts also recently issued reports on MDA. ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce assumed coverage on MDA Space in a research note on Wednesday, May 13th. They set an “outperform” rating for the company. Weiss Ratings downgraded MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, Royal Bank Of Canada upped their price target on MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, MDA Space currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

MDA Space Stock Down 8.7%

Shares of NYSE MDA opened at $37.28 on Thursday. The stock has a market capitalization of $5.17 billion and a P/E ratio of 133.14. The company has a 50-day moving average price of $37.07. MDA Space has a one year low of $23.23 and a one year high of $49.37.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05.

MDA Space Company Profile

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.