Scotiabank Has Strong Estimate for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA - Free Report) - Stock analysts at Scotiabank upped their FY2024 EPS estimates for shares of MDA Space in a research note issued on Wednesday, January 8th. Scotiabank analyst K. Gupta now expects that the company will earn $0.88 per share for the year, up from their previous forecast of $0.78. Scotiabank has a "Outperform" rating and a $33.00 price target on the stock. The consensus estimate for MDA Space's current full-year earnings is $0.96 per share. Scotiabank also issued estimates for MDA Space's FY2025 earnings at $1.25 EPS and FY2026 earnings at $1.50 EPS.

A number of other equities research analysts also recently weighed in on MDA. Desjardins raised shares of MDA Space to a "moderate buy" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Cormark increased their price objective on shares of MDA Space from C$31.00 to C$38.00 in a research report on Wednesday, December 11th. Ci Capital boosted their price objective on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. Finally, Royal Bank of Canada increased their target price on MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, MDA Space presently has an average rating of "Buy" and a consensus target price of C$31.50.

MDA Space Price Performance

Shares of MDA traded down C$0.25 during mid-day trading on Monday, hitting C$27.86. 484,273 shares of the company traded hands, compared to its average volume of 371,330. The business has a 50-day moving average of C$27.47 and a 200 day moving average of C$19.93. The stock has a market capitalization of C$3.34 billion, a price-to-earnings ratio of 73.32 and a beta of 0.02. MDA Space has a one year low of C$10.65 and a one year high of C$30.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insider Activity at MDA Space

In other MDA Space news, Director Michael Philip Greenley sold 9,700 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$28.60, for a total transaction of C$277,420.00. Also, Director John Carter Risley sold 61,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$28.06, for a total value of C$1,711,660.00. Over the last 90 days, insiders sold 361,300 shares of company stock valued at $10,285,710. Corporate 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.