Cormark Weighs in on MDA Space’s FY2024 Earnings (TSE:MDA)

MDA Space Ltd. (TSE:MDA) – Research analysts at Cormark increased their FY2024 earnings per share estimates for MDA Space in a research report issued on Monday, November 18th. Cormark analyst D. Mcfadgen now expects that the company will post earnings of $0.93 per share for the year, up from their previous estimate of $0.91. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share. Cormark also issued estimates for MDA Space’s FY2026 earnings at $1.24 EPS.

MDA has been the subject of a number of other reports. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$15.00 to C$28.00 in a research report on Monday, November 4th. Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Ci Capital boosted their target price on shares of MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Canaccord Genuity Group increased their price target on shares of MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. Finally, Scotiabank lifted their price target on 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. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$27.83.

MDA Space Price Performance

Shares of MDA Space stock opened at C$26.63 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. MDA Space has a 12 month low of C$10.65 and a 12 month high of C$27.47. The stock has a 50 day moving average of C$20.92 and a 200 day moving average of C$16.01. The firm has a market cap of C$3.20 billion, a PE ratio of 70.08 and a beta of 0.02.

Insider Activity

In other news, Director John Carter Risley sold 22,500 shares of the company’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 transaction of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of the 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. Over the last quarter, insiders have sold 198,920 shares of company stock valued at $3,281,370. 12.60% of the stock is currently owned by company insiders.

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.