Maxar Technologies (NYSE:MAXR) Trading Down 7.8%

Maxar Technologies Inc (NYSE:MAXR) dropped 7.8% during trading on Tuesday . The stock traded as low as $9.29 and last traded at $9.32, approximately 2,146,300 shares were traded during mid-day trading. An increase of 17% from the average daily volume of 1,831,074 shares. The stock had previously closed at $10.11.

MAXR has been the topic of several recent analyst reports. ValuEngine raised Maxar Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. National Bank Financial lifted their price target on Maxar Technologies from $7.00 to $8.50 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Raymond James reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Maxar Technologies in a research report on Wednesday, August 7th. Zacks Investment Research raised Maxar Technologies from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Friday, August 9th. Finally, BMO Capital Markets set a $8.00 price target on Maxar Technologies and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.70.

The company has a market cap of $562.12 million, a price-to-earnings ratio of -3.18 and a beta of 0.63. The company has a fifty day moving average price of $7.41 and a two-hundred day moving average price of $6.67. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 4.28.

Maxar Technologies (NYSE:MAXR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.19. The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $519.36 million. Maxar Technologies had a negative return on equity of 7.35% and a negative net margin of 64.83%. Maxar Technologies’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.70) EPS. Sell-side analysts anticipate that Maxar Technologies Inc will post -1.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.43%. The ex-dividend date is Thursday, September 12th. Maxar Technologies’s dividend payout ratio is -1.38%.

A number of hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in Maxar Technologies by 12.2% in the 2nd quarter. US Bancorp DE now owns 14,831 shares of the company’s stock valued at $116,000 after buying an additional 1,614 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Maxar Technologies by 838.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,408 shares of the company’s stock valued at $42,000 after buying an additional 4,832 shares in the last quarter. Glassman Wealth Services boosted its stake in Maxar Technologies by 965.7% in the 1st quarter. Glassman Wealth Services now owns 8,238 shares of the company’s stock valued at $33,000 after buying an additional 7,465 shares in the last quarter. Intellectus Partners LLC boosted its stake in Maxar Technologies by 40.0% in the 2nd quarter. Intellectus Partners LLC now owns 28,000 shares of the company’s stock valued at $219,000 after buying an additional 8,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in Maxar Technologies in the 2nd quarter valued at $82,000. 74.64% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS)

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