Maxar Technologies (NYSE:MAXR) Shares Gap Down on Analyst Downgrade

Shares of Maxar Technologies Inc. (NYSE:MAXRGet Rating) gapped down before the market opened on Wednesday after TD Securities lowered their price target on the stock from $36.00 to $34.00. The stock had previously closed at $26.03, but opened at $25.37. TD Securities currently has a buy rating on the stock. Maxar Technologies shares last traded at $23.20, with a volume of 24,132 shares trading hands.

MAXR has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Maxar Technologies from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 11th. Royal Bank of Canada set a $30.00 target price on shares of Maxar Technologies and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird lowered their target price on shares of Maxar Technologies from $52.00 to $45.00 in a research note on Wednesday, August 10th. Morgan Stanley lowered their target price on shares of Maxar Technologies from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, August 11th. Finally, Truist Financial lowered their target price on shares of Maxar Technologies from $44.00 to $37.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Maxar Technologies has a consensus rating of “Moderate Buy” and an average price target of $36.83.

Institutional Trading of Maxar Technologies

Several hedge funds have recently modified their holdings of the company. Balyasny Asset Management LLC lifted its position in shares of Maxar Technologies by 250.5% during the third quarter. Balyasny Asset Management LLC now owns 38,223 shares of the company’s stock valued at $716,000 after buying an additional 27,317 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Maxar Technologies by 388.7% during the third quarter. Baird Financial Group Inc. now owns 39,571 shares of the company’s stock valued at $741,000 after acquiring an additional 31,474 shares in the last quarter. Verus Capital Partners LLC increased its holdings in shares of Maxar Technologies by 720.0% during the third quarter. Verus Capital Partners LLC now owns 38,368 shares of the company’s stock valued at $718,000 after acquiring an additional 33,689 shares in the last quarter. BNP Paribas Arbitrage SNC increased its holdings in shares of Maxar Technologies by 60.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 128,136 shares of the company’s stock valued at $2,399,000 after acquiring an additional 48,452 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Maxar Technologies by 2.8% during the third quarter. Vanguard Group Inc. now owns 6,726,364 shares of the company’s stock valued at $125,917,000 after acquiring an additional 185,501 shares in the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.

Maxar Technologies Trading Down 11.2 %

The company has a debt-to-equity ratio of 1.49, a current ratio of 0.98 and a quick ratio of 0.92. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 60.82, a P/E/G ratio of 0.97 and a beta of 1.40. The company’s fifty day moving average price is $21.81 and its 200-day moving average price is $24.84.

Maxar Technologies (NYSE:MAXRGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.14). Maxar Technologies had a net margin of 1.72% and a return on equity of 2.73%. The company had revenue of $436.00 million for the quarter, compared to analyst estimates of $458.17 million. On average, research analysts expect that Maxar Technologies Inc. will post 0.87 EPS for the current fiscal year.

Maxar Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, December 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.17%. Maxar Technologies’s dividend payout ratio (DPR) is currently 10.53%.

About Maxar Technologies

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Maxar Technologies Inc provides earth intelligence and space infrastructure solutions in the United States, Asia, South America, Europe, the Middle East, Australia, Canada, and internationally. It operates through two segments, Earth Intelligence and Space Infrastructure. The Earth Intelligence segment offers earth imagery and other geospatial data sourced from its advanced satellite constellation and third-party providers to public sector and enterprise customers, as well as a provides advanced geospatial information, applications, and analytic services for national security and commercial solutions.

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