MDA Space (TSE:MDA) Reaches New 1-Year High – Here’s Why

MDA Space Ltd. (TSE:MDA)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$21.75 and last traded at C$21.74, with a volume of 8155 shares trading hands. The stock had previously closed at C$21.56.

Wall Street Analyst Weigh In

MDA has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of MDA Space from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Royal Bank of Canada upped their price objective on shares of MDA Space from C$18.00 to C$20.00 in a research report on Friday, September 20th. Canaccord Genuity Group increased their price objective on shares of MDA Space from C$18.00 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Cormark boosted their target price on MDA Space from C$19.00 to C$21.00 in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, MDA Space currently has an average rating of “Moderate Buy” and an average price target of C$18.63.

MDA Space Price Performance

The firm has a market cap of C$2.62 billion, a PE ratio of 57.39 and a beta of 0.02. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average is C$17.24 and its 200-day moving average is C$14.63.

MDA Space (TSE:MDA) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.10 by C$0.09. The company had revenue of C$242.00 million during the quarter, compared to analyst estimates of C$221.34 million. MDA Space had a net margin of 5.53% and a return on equity of 4.47%. On average, research analysts predict that MDA Space Ltd. will post 0.9605084 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of C$2,911,632.50. In related news, Director John Carter Risley sold 22,500 shares of the firm’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 value of C$347,017.50. Also, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction that occurred 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. Insiders sold 199,220 shares of company stock valued at $3,285,909 over the last ninety days. 12.60% of the stock is currently owned by 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.