MDA Space (TSE:MDA) Reaches New 1-Year High – Time to Buy?

MDA Space Ltd. (TSE:MDA)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$25.85 and last traded at C$25.79, with a volume of 61975 shares changing hands. The stock had previously closed at C$25.29.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MDA shares. Royal Bank of Canada upped their target price on MDA Space from C$18.00 to C$20.00 in a research note on Friday, September 20th. Canaccord Genuity Group boosted their price target on MDA Space from C$21.00 to C$27.00 in a research report on Monday. Desjardins upgraded MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Scotiabank boosted their price target 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 price target on MDA Space from C$19.00 to C$21.00 in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$22.29.

MDA Space Stock Performance

The firm has a market cap of C$3.06 billion, a price-to-earnings ratio of 66.55 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 45.79. The stock has a fifty day moving average price of C$18.84 and a 200-day moving average price of C$15.22.

MDA Space (TSE:MDA) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.10 by C$0.09. MDA Space had a return on equity of 4.47% and a net margin of 5.53%. The firm had revenue of C$242.00 million for the quarter, compared to analyst estimates of C$221.34 million. On average, analysts expect 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 company’s 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. In other news, Director Michael Philip Greenley sold 175,000 shares of the company’s 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. Also, Director John Carter Risley sold 22,500 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders have sold 199,220 shares of company stock worth $3,285,909. 12.60% of the stock is owned by corporate insiders.

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.