MDA Space (TSE:MDA) Hits New 12-Month High Following Analyst Upgrade

MDA Space Ltd. (TSE:MDA) shares hit a new 52-week high during trading on Friday after Royal Bank of Canada raised their price target on the stock from C$18.00 to C$20.00. The company traded as high as C$16.96 and last traded at C$16.94, with a volume of 126517 shares trading hands. The stock had previously closed at C$16.44.

Several other equities analysts have also recently commented on MDA. Scotiabank boosted their price target on shares of MDA Space from C$21.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Cormark lifted their price objective on MDA Space from C$19.00 to C$21.00 in a research report on Friday, August 9th.

Insider Buying and Selling at MDA Space

In other news, Director John Carter Risley sold 22,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. In related news, Director Karl W. Smith acquired 3,244 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of C$14.83 per share, with a total value of C$48,120.20. Also, Director John Carter Risley sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$15.42, for a total value of C$347,017.50. Corporate insiders own 12.61% of the company’s stock.

MDA Space Stock Performance

The stock’s 50-day moving average price is C$14.46 and its 200 day moving average price is C$13.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79. The company has a market cap of C$2.02 billion, a P/E ratio of 44.26 and a beta of -0.02.

MDA Space (TSE:MDA) last announced its earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.10 by C$0.09. The firm had revenue of C$242.00 million for the quarter, compared to the consensus estimate of C$221.34 million. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. As a group, research analysts expect that MDA Space Ltd. will post 0.9875297 EPS for the current fiscal year.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.