Beutel Goodman & Co Ltd. bought a new stake in MDA Space Ltd. (NYSE:MDA – Free Report) in the third quarter, Holdings Channel reports. The institutional investor bought 856,114 shares of the company’s stock, valued at approximately $25,416,000.
Several other hedge funds have also made changes to their positions in MDA. The Manufacturers Life Insurance Company acquired a new position in MDA Space in the 2nd quarter valued at about $5,114,000. BlackRock Inc. purchased a new stake in MDA Space during the 2nd quarter valued at approximately $4,931,000. TD Waterhouse Canada Inc. raised its stake in MDA Space by 37.9% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 992,507 shares of the company’s stock valued at $28,630,000 after acquiring an additional 272,974 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in MDA Space during the 3rd quarter valued at approximately $12,052,000. Finally, Caisse de depot et placement du Quebec lifted its position in MDA Space by 13.7% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock worth $32,457,000 after acquiring an additional 94,799 shares during the period.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MDA shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. National Bank Financial initiated coverage on MDA Space in a research note on Monday, September 14th. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their price target on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of MDA Space in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.
Read Our Latest Research Report on MDA
MDA Space Stock Up 8.3%
Shares of NYSE:MDA opened at $30.75 on Tuesday. The company has a market cap of $4.99 billion and a price-to-earnings ratio of 56.94. The firm’s 50-day simple moving average is $28.95 and its 200-day simple moving average is $33.21. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. MDA Space Ltd. has a fifty-two week low of $23.23 and a fifty-two week high of $49.37.
MDA Space (NYSE:MDA – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. As a group, equities research analysts predict that MDA Space Ltd. will post 0.96 earnings per share for the current year.
MDA Space Profile
MDA Space is a Canadian space technology company that develops and provides systems and services for government, commercial and defense customers. Its work spans satellite communications, Earth observation and space robotics, supporting missions and operations on Earth and in orbit.
The company designs and builds satellites and related systems, provides geospatial data and analytics, and develops robotic technologies for space. Its robotics work includes contributions to the Canadarm2 and Dextre systems on the International Space Station, as well as work on Canadarm3, planned for the Lunar Gateway.
Founded in 1969, MDA has operated under several corporate structures, including as part of Maxar Technologies, before returning to independent ownership and adopting the MDA Space name.
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