BMO Capital Markets Lowers Maxar Technologies (MAXR) to Market Perform

BMO Capital Markets lowered shares of Maxar Technologies (NYSE:MAXR) from an outperform rating to a market perform rating in a research report report published on Tuesday morning, The Fly reports. BMO Capital Markets currently has $15.00 price objective on the stock, down from their prior price objective of $35.00.

A number of other brokerages also recently commented on MAXR. Royal Bank of Canada reduced their target price on shares of Maxar Technologies from $65.00 to $57.00 and set an outperform rating for the company in a report on Thursday, October 18th. TD Securities reduced their target price on shares of Maxar Technologies from $65.00 to $60.00 and set a buy rating for the company in a report on Wednesday, October 24th. Credit Suisse Group downgraded shares of Maxar Technologies from a neutral rating to an underperform rating and reduced their target price for the stock from $17.00 to $5.88 in a report on Tuesday. Raymond James reduced their target price on shares of Maxar Technologies from $59.00 to $25.00 and set an outperform rating for the company in a report on Thursday, November 1st. Finally, CIBC downgraded shares of Maxar Technologies from a sector outperform rating to a neutral rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $34.72.

Shares of NYSE:MAXR traded down $0.14 on Tuesday, hitting $6.06. 855,915 shares of the company’s stock were exchanged, compared to its average volume of 1,465,316. Maxar Technologies has a 12 month low of $5.04 and a 12 month high of $64.00. The company has a market cap of $372.75 million, a price-to-earnings ratio of 2.85 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 the consensus estimate of $1.05 by ($0.30). The firm had revenue of $508.20 million during the quarter, compared to the consensus estimate of $726.45 million. Maxar Technologies had a negative net margin of 17.81% and a positive return on equity of 10.93%. The business’s revenue was up 50.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. As a group, equities research analysts predict that Maxar Technologies will post 3.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Friday, December 14th were paid a dividend of $0.283 per share. The ex-dividend date was Thursday, December 13th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 18.68%. Maxar Technologies’s payout ratio is 52.11%.

Several hedge funds have recently modified their holdings of the company. Fulton Bank N.A. purchased a new stake in shares of Maxar Technologies during the fourth quarter worth about $249,000. Teachers Advisors LLC boosted its position in Maxar Technologies by 1.1% in the third quarter. Teachers Advisors LLC now owns 110,900 shares of the company’s stock valued at $3,667,000 after buying an additional 1,209 shares during the last quarter. Vanguard Group Inc boosted its position in 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 buying an additional 269,041 shares during the last quarter. IMS Capital Management purchased a new stake in Maxar Technologies in the third quarter valued at approximately $35,000. Finally, Marshall Wace LLP purchased a new stake in Maxar Technologies in the third quarter valued at approximately $396,000. Institutional investors and hedge funds own 82.92% of the company’s stock.

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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