Cormark Has Negative Forecast for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Research analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for MDA Space in a report released on Wednesday, December 11th. Cormark analyst D. Mcfadgen now forecasts that the company will earn $0.92 per share for the year, down from their previous estimate of $0.93. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share.

A number of other analysts have also recently issued reports on MDA. Scotiabank raised their target price on shares of MDA Space from C$29.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group raised their price objective on shares of MDA Space from C$30.00 to C$34.00 in a research report on Friday. Desjardins raised MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Ci Capital boosted their price target on MDA Space from C$15.00 to C$26.00 in a research note on Monday, November 18th. Finally, BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$31.50.

MDA Space Price Performance

TSE:MDA opened at C$28.50 on Monday. MDA Space has a 12-month low of C$10.65 and a 12-month high of C$29.98. The firm has a market capitalization of C$3.42 billion, a price-to-earnings ratio of 75.00 and a beta of 0.02. The stock’s 50 day moving average price is C$24.26 and its two-hundred day moving average price is C$17.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Activity

In other MDA Space 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 Yung Cheng Wu bought 3,800 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Insiders own 12.60% of the company’s stock.

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.