Cormark Issues Pessimistic Forecast for MDA Space Earnings

MDA Space Ltd. (TSE:MDA) – Stock analysts at Cormark reduced their FY2024 earnings estimates for MDA Space in a research note issued to investors on Tuesday, November 5th. Cormark analyst D. Mcfadgen now expects that the company will earn $0.91 per share for the year, down from their prior estimate of $0.92. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share. Cormark also issued estimates for MDA Space’s FY2025 earnings at $0.96 EPS.

MDA Space (TSE:MDA) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating analysts’ consensus estimates of C$0.10 by C$0.09. The firm had revenue of C$242.00 million during the quarter, compared to analyst estimates of C$221.34 million. MDA Space had a net margin of 5.53% and a return on equity of 4.47%.

Several other brokerages have also commented on MDA. Royal Bank of Canada upped their price objective on shares of MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. BMO Capital Markets raised shares of MDA Space from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$15.00 to C$28.00 in a report on Monday, November 4th. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Scotiabank upped their target price on shares of MDA Space from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group raised their price target on MDA Space from C$21.00 to C$27.00 in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, MDA Space presently has a consensus rating of “Moderate Buy” and an average price target of C$22.29.

MDA Space Price Performance

TSE:MDA opened at C$26.03 on Thursday. The firm has a market capitalization of C$3.13 billion, a price-to-earnings ratio of 68.50 and a beta of 0.02. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of C$19.23 and a 200 day moving average of C$15.38. MDA Space has a 52-week low of C$10.65 and a 52-week high of C$26.07.

Insider Buying and Selling at MDA Space

In other news, Director Karl W. Smith bought 3,244 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of C$14.83 per share, with a total value of C$48,120.20. In other news, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction that occurred on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total value of C$2,911,632.50. Also, Director Karl W. Smith bought 3,244 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of C$14.83 per share, with a total value of C$48,120.20. Over the last 90 days, insiders sold 199,220 shares of company stock worth $3,285,909. 12.60% of the stock is currently owned by insiders.

MDA Space Company Profile

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.