Cormark Has Positive Forecast for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Equities research analysts at Cormark lifted their FY2024 earnings estimates for MDA Space in a research note issued on Thursday, January 30th. Cormark analyst D. Mcfadgen now expects that the company will earn $0.93 per share for the year, up from their previous estimate of $0.92. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share.

Several other equities analysts have also commented on the company. Scotiabank upped their target price on MDA Space from C$29.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada increased their price objective on shares of MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$15.00 to C$28.00 in a report on Monday, November 4th. Citigroup increased their price objective on shares of MDA Space from C$26.00 to C$30.00 in a research report on Thursday, January 30th. Finally, Ci Capital boosted their price target on MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$31.29.

MDA Space Trading Up 7.1 %

Shares of MDA opened at C$23.60 on Monday. MDA Space has a fifty-two week low of C$11.24 and a fifty-two week high of C$30.00. The company has a market capitalization of C$2.83 billion, a PE ratio of 62.11 and a beta of 0.02. The stock has a fifty day moving average of C$27.84 and a two-hundred day moving average of C$21.41. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Transactions at MDA Space

In other MDA Space news, Director John Carter Risley sold 61,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$28.06, for a total value of C$1,711,660.00. Also, Director Yung Cheng Wu purchased 3,800 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$28.49 per share, for a total transaction of C$108,262.00. In the last 90 days, insiders sold 361,300 shares of company stock valued at $10,285,710. 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.