MDA Space (NYSE:MDA) Issues Quarterly Earnings Results

MDA Space (NYSE:MDA) posted its earnings results on Thursday. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05, Zacks reports.

MDA Space Stock Performance

NYSE MDA traded up $0.31 during trading on Friday, reaching $34.56. The company’s stock had a trading volume of 562,150 shares, compared to its average volume of 748,796. MDA Space has a one year low of $23.23 and a one year high of $37.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MDA shares. JPMorgan Chase & Co. started coverage on shares of MDA Space in a report on Monday, April 6th. They issued an “overweight” rating and a $34.00 price target on the stock. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Weiss Ratings assumed coverage on shares of MDA Space in a report on Wednesday, April 8th. They set a “buy (b-)” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of MDA Space in a report on Monday, April 6th. They issued a “buy” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat, MDA Space currently has a consensus rating of “Buy” and a consensus price target of $37.50.

About MDA Space

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.