Shares of Maxar Technologies Ltd (NYSE:MAXR) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $8.58, but opened at $14.91. Maxar Technologies shares last traded at $13.80, with a volume of 102739 shares trading hands.
The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.30). The business had revenue of $508.20 million for the quarter, compared to analysts’ expectations of $726.45 million. Maxar Technologies had a return on equity of 11.10% and a net margin of 3.95%. The business’s revenue was up 50.6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share.
A number of equities analysts have recently issued reports on MAXR shares. Zacks Investment Research upgraded shares of Maxar Technologies from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Saturday, August 4th. TD Securities lowered their price objective on shares of Maxar Technologies from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Canaccord Genuity reiterated a “buy” rating on shares of Maxar Technologies in a research report on Tuesday, July 31st. BMO Capital Markets set a $35.00 price objective on shares of Maxar Technologies and gave the company a “buy” rating in a research report on Thursday. Finally, CIBC lowered shares of Maxar Technologies from a “sector outperform” rating to a “neutral” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $58.00.
The stock has a market cap of $1.60 billion and a price-to-earnings ratio of 6.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.91 and a current ratio of 1.03.
Maxar Technologies Company Profile (NYSE:MAXR)
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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