Cormark Has Pessimistic View of MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA - Free Report) - Investment analysts at Cormark reduced their FY2024 EPS estimates for MDA Space in a research report issued to clients and investors 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 forecast 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 commented on MDA. BMO Capital Markets upgraded MDA Space from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from C$15.00 to C$28.00 in a research report on Monday, November 4th. Royal Bank of Canada upped their price objective on shares of MDA Space from C$28.00 to C$30.00 in a research note on Wednesday, November 20th. Ci Capital lifted their target price on shares of MDA Space from C$15.00 to C$26.00 in a research note on Monday, November 18th. Canaccord Genuity Group boosted their price target on MDA Space from C$30.00 to C$34.00 in a report on Friday. Finally, Desjardins upgraded MDA Space to a "moderate buy" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, MDA Space presently has a consensus rating of "Buy" and a consensus target price of C$31.50.

MDA Space Price Performance

MDA Space stock traded down C$0.12 during mid-day trading on Monday, hitting C$28.38. 433,309 shares of the company were exchanged, compared to its average volume of 279,792. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. MDA Space has a 12-month low of C$10.65 and a 12-month high of C$29.98. The business's 50 day simple moving average is C$24.26 and its two-hundred day simple moving average is C$17.57. The company has a market capitalization of C$3.41 billion, a P/E ratio of 75.03 and a beta of 0.02.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Yung Cheng Wu acquired 3,800 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$28.49 per share, with a total value of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. 12.60% of the stock is owned by company insiders.

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.