MDA Space (TSE:MDA) Share Price Breaks Above Fifty Day Moving Average – Here’s Why

MDA Space Ltd. (TSE:MDA) shares crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of C$40.70 and traded as high as C$43.65. MDA Space shares last traded at C$43.41, with a volume of 1,905,462 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MDA shares. Canadian Imperial Bank of Commerce reduced their target price on MDA Space from C$67.00 to C$59.00 in a research note on Wednesday, July 15th. Desjardins raised their price target on MDA Space from C$70.00 to C$72.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada dropped their price target on MDA Space from C$60.00 to C$55.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Canaccord Genuity Group cut their price target on MDA Space from C$65.00 to C$64.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, National Bank Financial set a C$55.00 price objective on MDA Space and gave the company an “outperform” rating in a research report on Tuesday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$63.18.

MDA Space Price Performance

The company has a market capitalization of C$7.04 billion, a PE ratio of 58.66 and a beta of -0.22. The company has a current ratio of 2.10, a quick ratio of 1.00 and a debt-to-equity ratio of 31.46. The company’s 50 day moving average price is C$40.70 and its 200-day moving average price is C$44.44.

MDA Space (TSE:MDA) last issued its earnings results on Thursday, November 5th. The company reported C$0.37 earnings per share for the quarter. MDA Space had a return on equity of 5.52% and a net margin of 5.73%. The firm had revenue of C$498.10 million for the quarter. On average, sell-side analysts forecast that MDA Space Ltd. will post 0.96 earnings per share for the current fiscal year.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.