Maxar Technologies (NYSE:MAXR) Shares Gap Up on Analyst Upgrade

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Maxar Technologies Inc (NYSE:MAXR) gapped up prior to trading on Thursday after TD Securities raised their price target on the stock from $8.50 to $9.50. The stock had previously closed at $9.67, but opened at $9.18. TD Securities currently has a hold rating on the stock. Maxar Technologies shares last traded at $9.49, with a volume of 57,371 shares.

A number of other equities analysts also recently weighed in on the stock. Credit Suisse Group set a $5.00 target price on shares of Maxar Technologies and gave the stock a “sell” rating in a research note on Monday, July 15th. Zacks Investment Research raised shares of Maxar Technologies from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Friday, August 9th. ValuEngine raised shares of Maxar Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets set a $8.00 target price on shares of Maxar Technologies and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, National Bank Financial boosted their target price on shares of Maxar Technologies from $7.00 to $8.50 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Maxar Technologies has a consensus rating of “Hold” and a consensus target price of $12.70.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC bought a new stake in shares of Maxar Technologies during the second quarter worth approximately $2,051,000. Jane Street Group LLC bought a new position in Maxar Technologies during the 2nd quarter worth approximately $297,000. D. E. Shaw & Co. Inc. raised its holdings in Maxar Technologies by 156.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 65,044 shares of the company’s stock worth $510,000 after purchasing an additional 39,704 shares during the last quarter. PointState Capital LP bought a new position in Maxar Technologies during the 2nd quarter worth approximately $5,956,000. Finally, Mackenzie Financial Corp raised its holdings in Maxar Technologies by 12.1% during the 2nd quarter. Mackenzie Financial Corp now owns 8,207,661 shares of the company’s stock worth $64,184,000 after purchasing an additional 883,540 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.94 and a current ratio of 0.97. The firm’s fifty day simple moving average is $7.18 and its 200-day simple moving average is $6.58. The stock has a market cap of $418.97 million, a P/E ratio of -3.27 and a beta of 0.63.

Maxar Technologies (NYSE:MAXR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.19. Maxar Technologies had a negative net margin of 64.83% and a negative return on equity of 7.35%. The firm had revenue of $490.00 million during the quarter, compared to analyst estimates of $519.36 million. During the same quarter last year, the business earned ($0.70) EPS. The company’s revenue was down 15.4% compared to the same quarter last year. Analysts predict that Maxar Technologies Inc will post -1.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.42%. Maxar Technologies’s payout ratio is -1.38%.

About Maxar Technologies (NYSE:MAXR)

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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