Maxar Technologies (MAXR) Downgraded to Sell at ValuEngine

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Maxar Technologies (NYSE:MAXR) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday, May 10th, ValuEngine reports.

A number of other brokerages have also recently commented on MAXR. TD Securities cut their price target on shares of Maxar Technologies from $24.00 to $18.50 and set a “speculative buy” rating for the company in a research note on Monday, January 28th. Zacks Investment Research cut shares of Maxar Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. CIBC restated a “hold” rating and set a $6.00 price target on shares of Maxar Technologies in a research note on Tuesday, January 22nd. National Bank Financial cut their price target on shares of Maxar Technologies from $8.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, March 7th. Finally, Raymond James reiterated an “outperform” rating and issued a $20.00 target price on shares of Maxar Technologies in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.88.

MAXR traded down $0.55 during midday trading on Friday, reaching $7.31. 2,648,631 shares of the company’s stock were exchanged, compared to its average volume of 1,652,528. The stock has a market cap of $456.49 million, a price-to-earnings ratio of -2.52 and a beta of 1.47. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 5.47. Maxar Technologies has a one year low of $3.83 and a one year high of $55.28.

Maxar Technologies (NYSE:MAXR) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($1.13). The business had revenue of $504.00 million for the quarter, compared to the consensus estimate of $476.55 million. Maxar Technologies had a negative return on equity of 0.91% and a negative net margin of 69.96%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 EPS. Equities research analysts expect that Maxar Technologies will post -0.73 EPS for the current fiscal year.

In other news, insider Mike Greenley bought 10,715 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $5.23 per share, for a total transaction of $56,039.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Walter S. Scott bought 20,300 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $5.06 per share, with a total value of $102,718.00. The disclosure for this purchase can be found here. Insiders bought 56,015 shares of company stock valued at $286,907 in the last quarter. 0.59% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of MAXR. Bank of New York Mellon Corp increased its holdings in shares of Maxar Technologies by 2.7% in the third quarter. Bank of New York Mellon Corp now owns 183,090 shares of the company’s stock valued at $6,055,000 after purchasing an additional 4,822 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Maxar Technologies by 67.1% in the third quarter. Dimensional Fund Advisors LP now owns 93,883 shares of the company’s stock valued at $3,104,000 after purchasing an additional 37,699 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Maxar Technologies in the third quarter valued at approximately $7,056,000. Morgan Stanley increased its holdings in shares of Maxar Technologies by 23.8% in the third quarter. Morgan Stanley now owns 1,237,688 shares of the company’s stock valued at $40,930,000 after purchasing an additional 237,658 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Maxar Technologies by 5.1% in the third quarter. Vanguard Group Inc. now owns 5,544,566 shares of the company’s stock valued at $183,359,000 after purchasing an additional 269,041 shares in the last quarter. 72.54% of the stock is owned by institutional investors and hedge funds.

Maxar Technologies Company Profile

Maxar Technologies Inc, a space and geospatial intelligence company, provides space technology solutions for 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, satellite payloads and antenna subsystems, space-based and airborne surveillance solutions, and robotic systems and associated ground infrastructure and support services for communications and surveillance and intelligence applications.

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Analyst Recommendations for Maxar Technologies (NYSE:MAXR)

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