Analysts Offer Predictions for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Stock analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for shares of MDA Space in a research report issued on Wednesday, December 11th. Cormark analyst D. Mcfadgen now forecasts that the company will post earnings of $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.

Several other brokerages have also weighed in on MDA. Desjardins upgraded MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Ci Capital boosted their price target on shares of MDA Space from C$15.00 to C$26.00 in a research note on Monday, November 18th. Canaccord Genuity Group upped their target price on shares of MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Scotiabank lifted their price target on shares of MDA Space from C$29.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, BMO Capital Markets raised shares of 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. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$31.50.

MDA Space Price Performance

MDA stock opened at C$28.67 on Monday. The business has a 50 day simple moving average of C$24.64 and a 200-day simple moving average of C$17.72. The firm has a market capitalization of C$3.44 billion, a PE ratio of 75.45 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. MDA Space has a 1 year low of C$10.65 and a 1 year high of C$29.98.

Insider Transactions at MDA Space

In other news, Director Michael Philip Greenley sold 9,700 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$28.60, for a total transaction of C$277,420.00. Also, Director Yung Cheng Wu purchased 3,800 shares of MDA Space stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost of C$28.49 per share, with a total value of C$108,262.00. 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.