MDA Space (TSE:MDA) Reaches New 12-Month High on Analyst Upgrade

Shares of MDA Space Ltd. (TSE:MDA) reached a new 52-week high 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 changing hands. The stock had previously closed at C$16.44.

A number of other research firms have also weighed in on MDA. Cormark raised their target price on shares of MDA Space from C$19.00 to C$21.00 in a report on Friday, August 9th. Scotiabank raised their target price 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.

Insider Transactions at MDA Space

In other news, Director John Carter Risley sold 22,500 shares of MDA Space stock in a transaction 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. In other news, Director Karl W. Smith acquired 3,244 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of C$14.83 per share, for a total transaction of C$48,120.20. Also, Director John Carter Risley sold 22,500 shares of MDA Space stock in a transaction dated Tuesday, September 3rd. The shares were 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 Price Performance

The firm has a 50 day simple moving average of C$14.38 and a 200-day simple moving average of C$13.87. 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$2.03 billion, a PE ratio of 44.00 and a beta of -0.02.

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

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.