MDA Space (NYSE:MDA) Trading Up 4.7% – Here’s What Happened
by Danessa Lincoln · The Markets DailyMDA Space Ltd. (NYSE:MDA – Get Free Report)’s stock price traded up 4.7% on Thursday . The company traded as high as $30.23 and last traded at $30.16. 370,482 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,236,540 shares. The stock had previously closed at $28.81.
Wall Street Analysts Forecast Growth
MDA has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of MDA Space in a research report on Monday, August 17th. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $49.00 price target on shares of MDA Space in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.
View Our Latest Research Report on MDA Space
MDA Space Trading Up 0.2%
The stock has a market cap of $4.69 billion and a P/E ratio of 53.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72. The business’s fifty day simple moving average is $31.95.
MDA Space (NYSE:MDA – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $360.18 million for the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, analysts expect that MDA Space Ltd. will post 0.95 EPS for the current fiscal year.
Institutional Investors Weigh In On MDA Space
Several institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp purchased a new stake in MDA Space in the second quarter worth $135,771,000. Tidal Investments LLC purchased a new position in MDA Space during the 2nd quarter valued at $53,428,000. TD Waterhouse Canada Inc. purchased a new position in MDA Space during the 2nd quarter valued at $28,441,000. Allianz Asset Management GmbH bought a new position in MDA Space in the 2nd quarter worth $15,665,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MDA Space in the 2nd quarter worth about $5,114,000.
MDA Space Company Profile
MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.
Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.
The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.