Zacks Investment Research Downgrades Maxar Technologies (MAXR) to Strong Sell
Maxar Technologies (NYSE:MAXR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.
According to Zacks, “Maxar Technologies Ltd. is a communications and information company which provide operational solutions to commercial and government organizations. The Company’s commercial space technology brands consist of SSL, MDA, DigitalGlobe and Radiant. SSL is a commercial provider of communications and Earth observation satellites and scientific mission spacecraft for commercial and government markets; MDA provide space robotics, satellite antennas and subsystems, surveillance and intelligence systems, defense and maritime systems and geospatial radar imagery; DigitalGlobe provide high resolution optical satellite imagery and information about our changing planet and Radiant provide geospatial data, analytics, software and services. Maxar Technologies Ltd. is based in British Columbia, Canada. “
Other analysts also recently issued reports about the stock. TD Securities lowered their price target on shares of Maxar Technologies from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Royal Bank of Canada lowered their price target on shares of Maxar Technologies from $73.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, September 5th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price target on shares of Maxar Technologies in a research note on Tuesday, July 17th. Raymond James lowered their price target on shares of Maxar Technologies from $59.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, November 1st. Finally, CIBC downgraded shares of Maxar Technologies from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Maxar Technologies currently has a consensus rating of “Buy” and an average price target of $52.90.
Maxar Technologies (NYSE:MAXR) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.30). The business had revenue of $508.20 million during the quarter, compared to the consensus estimate of $726.45 million. Maxar Technologies had a positive return on equity of 10.93% and a negative net margin of 17.81%. The business’s revenue for the quarter was up 50.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities analysts expect that Maxar Technologies will post 3.85 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Maxar Technologies by 5.3% during the third quarter. Rhumbline Advisers now owns 58,975 shares of the company’s stock valued at $1,950,000 after acquiring an additional 2,951 shares during the last quarter. Stevens First Principles Investment Advisors raised its stake in shares of Maxar Technologies by 29.7% during the second quarter. Stevens First Principles Investment Advisors now owns 13,925 shares of the company’s stock valued at $703,000 after acquiring an additional 3,185 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Maxar Technologies during the second quarter valued at about $177,000. SG Americas Securities LLC raised its stake in shares of Maxar Technologies by 141.0% during the second quarter. SG Americas Securities LLC now owns 7,305 shares of the company’s stock valued at $369,000 after acquiring an additional 4,274 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Maxar Technologies during the second quarter valued at about $233,000. 84.96% of the stock is owned by hedge funds and other institutional investors.
About Maxar Technologies
Maxar Technologies Ltd., a space and geospatial intelligence company, provides satellites, earth imagery, geospatial data, and analytics for the commercial and government customers worldwide. The company operates through three segments: Space Systems, Imagery, and Services. The Space Systems segment supplies space and ground based infrastructure and information solutions, including communication and imaging satellites, payloads and antenna subsystems, space-based and airborne surveillance solutions, and associated ground infrastructure and support services for communications and surveillance and intelligence applications.
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