Cormark Has Negative Forecast for MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDAFree Report) – Analysts at Cormark lowered their FY2024 EPS estimates for shares of MDA Space in a research note issued on Wednesday, December 11th. Cormark analyst D. Mcfadgen now expects that the company will earn $0.92 per share for the year, down from their prior estimate of $0.93. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$15.00 to C$28.00 in a report on Monday, November 4th. Scotiabank raised their target price on MDA Space from C$29.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Desjardins upgraded MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Ci Capital increased their price objective on MDA Space from C$15.00 to C$26.00 in a research note on Monday, November 18th. Finally, Canaccord Genuity Group boosted their target price on shares of MDA Space from C$30.00 to C$34.00 in a research note on Friday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MDA Space currently has a consensus rating of “Buy” and an average price target of C$31.50.

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MDA Space Stock Performance

TSE MDA opened at C$28.38 on Monday. MDA Space has a twelve month low of C$10.65 and a twelve month high of C$29.98. 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 market cap of C$3.41 billion, a P/E ratio of 74.68 and a beta of 0.02. The company’s 50-day simple moving average is C$24.45 and its 200 day simple moving average is C$17.64.

Insider Buying and Selling

In related news, Director Yung Cheng Wu bought 3,800 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$28.49 per share, with a total value of C$108,262.00. Also, Director Michael Philip Greenley sold 9,700 shares of the company’s 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. 12.60% of the stock is owned by corporate insiders.

MDA Space Company Profile

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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.

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Earnings History and Estimates for MDA Space (TSE:MDA)

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