Maxar Technologies (NYSE:MAXR) was downgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $5.88 price target on the stock, down from their prior price target of $17.00. Credit Suisse Group’s target price suggests a potential downside of 5.47% from the stock’s current price.
Other research analysts have also issued reports about the stock. Royal Bank of Canada dropped their price objective on shares of Maxar Technologies from $65.00 to $57.00 and set an “outperform” rating on the stock in a research note on Thursday, October 18th. TD Securities dropped their price objective on shares of Maxar Technologies from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Raymond James dropped their price objective on shares of Maxar Technologies from $59.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. CIBC lowered shares of Maxar Technologies from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Maxar Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.72.
Shares of Maxar Technologies stock traded down $0.08 during trading hours on Tuesday, reaching $6.22. The company’s stock had a trading volume of 11,774 shares, compared to its average volume of 3,281,341. Maxar Technologies has a one year low of $5.04 and a one year high of $64.00. The firm has a market capitalization of $693.40 million, a price-to-earnings ratio of 2.92 and a beta of 2.71. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.
Maxar Technologies (NYSE:MAXR) last released its quarterly earnings data on Wednesday, October 31st. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.30). Maxar Technologies had a negative net margin of 17.81% and a positive return on equity of 10.93%. The business had revenue of $508.20 million during the quarter, compared to the consensus estimate of $726.45 million. During the same period last year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was up 50.6% on a year-over-year basis. On average, research analysts forecast that Maxar Technologies will post 3.85 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd bought a new position in shares of Maxar Technologies during the third quarter valued at about $494,000. Wells Fargo & Company MN raised its position in Maxar Technologies by 74.3% in the third quarter. Wells Fargo & Company MN now owns 226,583 shares of the company’s stock worth $7,493,000 after acquiring an additional 96,608 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Maxar Technologies in the third quarter worth about $715,000. Rhumbline Advisers raised its position in Maxar Technologies by 5.3% in the third quarter. Rhumbline Advisers now owns 58,975 shares of the company’s stock worth $1,950,000 after acquiring an additional 2,951 shares during the period. Finally, Morgan Stanley raised its position in Maxar Technologies by 36.4% in the second quarter. Morgan Stanley now owns 1,000,030 shares of the company’s stock worth $50,521,000 after acquiring an additional 266,602 shares during the period. 82.92% of the stock is currently owned by 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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