What is Cormark’s Forecast for MDA Space FY2024 Earnings?

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

Several other analysts have also recently weighed in on MDA. Citigroup increased their price target on shares of MDA Space from C$26.00 to C$30.00 in a research note on Thursday, January 30th. Ci Capital upped their price target on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. 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. Royal Bank of Canada upped their price objective on shares of MDA Space from C$28.00 to C$30.00 in a research note on Wednesday, November 20th. Finally, Desjardins upgraded shares of MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$31.29.

MDA Space Price Performance

TSE:MDA opened at C$23.60 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. MDA Space has a 12 month low of C$11.24 and a 12 month high of C$30.00. The firm has a market cap of C$2.83 billion, a P/E ratio of 62.11 and a beta of 0.02. The stock has a 50 day moving average of C$27.84 and a two-hundred day moving average of C$21.41.

Insiders Place Their Bets

In related news, Director Michael Philip Greenley sold 9,700 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$28.60, for a total transaction of C$277,420.00. Also, 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. In the last quarter, insiders sold 361,300 shares of company stock worth $10,285,710. 12.60% of the stock is owned by insiders.

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.