Desjardins Issues Optimistic Estimate for MDA Space Earnings

MDA Space Ltd. (TSE:MDA - Free Report) - Stock analysts at Desjardins upped their FY2024 earnings per share (EPS) estimates for MDA Space in a research note issued to investors on Sunday, November 17th. Desjardins analyst B. Poirier now anticipates that the company will post earnings per share of $0.93 for the year, up from their previous estimate of $0.87. Desjardins currently has a "Moderate Buy" rating on the stock. The consensus estimate for MDA Space's current full-year earnings is $0.96 per share. Desjardins also issued estimates for MDA Space's Q4 2024 earnings at $0.31 EPS, FY2025 earnings at $1.35 EPS and FY2026 earnings at $1.60 EPS.

Several other research firms have also recently issued reports on MDA. Royal Bank of Canada increased their price target on shares of MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. BMO Capital Markets raised MDA Space from a "market perform" rating to an "outperform" rating and raised their price target for the company from C$15.00 to C$28.00 in a report on Monday, November 4th. Canaccord Genuity Group upped their price objective on MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. Scotiabank increased their price objective 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. Finally, Cormark boosted their target price on shares of MDA Space from C$30.00 to C$31.00 in a research report on Monday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$26.17.

MDA Space Stock Performance

The company has a quick ratio of 1.00, a current 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$27.05. The business's fifty day simple moving average is C$20.25 and its 200-day simple moving average is C$15.76. The firm has a market capitalization of C$3.17 billion, a P/E ratio of 67.63 and a beta of 0.02.

Insider Activity at MDA Space

In related news, Director John Carter Risley sold 22,500 shares of the company's stock in a transaction that occurred 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. Also, Director Michael Philip Greenley sold 175,000 shares of the stock in a transaction 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. Insiders have sold a total of 198,920 shares of company stock valued at $3,281,370 over the last quarter. Insiders own 12.60% of the company's stock.

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.