Cormark Has Pessimistic View of MDA Space FY2024 Earnings

MDA Space Ltd. (TSE:MDA) – Equities researchers at Cormark lowered their FY2024 EPS estimates for MDA Space in a research note issued to investors on Tuesday, November 5th. Cormark analyst D. Mcfadgen now forecasts that the company will earn $0.91 per share for the year, down from their prior estimate of $0.92. The consensus estimate for MDA Space’s current full-year earnings is $0.96 per share. Cormark also issued estimates for MDA Space’s FY2025 earnings at $0.96 EPS.

MDA Space (TSE:MDA) last posted its quarterly earnings results 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. The company had revenue of C$242.00 million during the quarter, compared to the consensus estimate of C$221.34 million. MDA Space had a return on equity of 4.47% and a net margin of 5.53%.

MDA has been the subject of several other research reports. BMO Capital Markets raised shares of 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 research note on Monday. Royal Bank of Canada boosted their target price on MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. Desjardins upgraded MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of MDA Space from C$21.00 to C$27.00 in a report on Monday. Finally, Scotiabank raised their target price on shares of MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$22.29.

MDA Space Price Performance

Shares of MDA opened at C$25.48 on Thursday. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of C$3.06 billion, a PE ratio of 67.05 and a beta of 0.02. The firm’s 50 day moving average price is C$19.03 and its 200 day moving average price is C$15.30. MDA Space has a twelve month low of C$10.65 and a twelve month high of C$25.95.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Michael Philip Greenley sold 175,000 shares of MDA Space stock in a transaction that occurred on Sunday, September 22nd. The stock was sold at an average price of C$16.64, for a total transaction of C$2,911,632.50. In other MDA Space news, Director Karl W. Smith acquired 3,244 shares of MDA Space stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of C$14.83 per share, with a total value of C$48,120.20. Also, Director Michael Philip Greenley sold 175,000 shares of the business’s stock in a transaction dated 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. Insiders sold a total of 199,220 shares of company stock valued at $3,285,909 in the last quarter. Corporate 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.