MDA Space (NYSE:MDA) Stock Rating Upgraded by Zacks Research

MDA Space (NYSE:MDA) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on MDA. Canadian Imperial Bank of Commerce started coverage on MDA Space in a report on Wednesday, May 13th. They issued an “outperform” rating on the stock. Canaccord Genuity Group raised MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings lowered MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Royal Bank Of Canada raised their price objective on MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. 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. According to data from MarketBeat, MDA Space currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

MDA Space Price Performance

MDA opened at $37.28 on Thursday. The firm has a market cap of $5.17 billion and a price-to-earnings ratio of 133.14. The firm has a 50 day simple moving average of $37.07. MDA Space has a 12-month low of $23.23 and a 12-month high of $49.37.

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

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.