Zacks Investment Research Downgrades Maxar Technologies (MAXR) to Strong Sell

Maxar Technologies (NYSE:MAXR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

According to Zacks, “Maxar Technologies Ltd. is a communications and information company which provide operational solutions to commercial and government organizations. The Company’s commercial space technology brands consist of SSL, MDA, DigitalGlobe and Radiant. SSL is a commercial provider of communications and Earth observation satellites and scientific mission spacecraft for commercial and government markets; MDA provide space robotics, satellite antennas and subsystems, surveillance and intelligence systems, defense and maritime systems and geospatial radar imagery; DigitalGlobe provide high resolution optical satellite imagery and information about our changing planet and Radiant provide geospatial data, analytics, software and services. Maxar Technologies Ltd. is based in British Columbia, Canada. “

A number of other analysts also recently weighed in on the company. Canaccord Genuity reiterated a “buy” rating on shares of Maxar Technologies in a report on Friday, August 10th. Royal Bank of Canada decreased their price target on Maxar Technologies from $73.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, September 5th. TD Securities decreased their price target on Maxar Technologies from $67.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Raymond James decreased their price target on Maxar Technologies from $59.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, November 1st. Finally, BMO Capital Markets set a $35.00 price target on Maxar Technologies and gave the stock a “buy” rating in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $52.90.

NYSE:MAXR traded down $0.82 during trading hours on Thursday, hitting $18.00. 969,483 shares of the company were exchanged, compared to its average volume of 663,219. The firm has a market cap of $1.07 billion and a P/E ratio of 8.45. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.80. Maxar Technologies has a one year low of $13.50 and a one year high of $67.30.

Maxar Technologies (NYSE:MAXR) last announced its earnings results on Wednesday, October 31st. The company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.30). The company had revenue of $508.20 million for the quarter, compared to the consensus estimate of $726.45 million. Maxar Technologies had a positive return on equity of 10.93% and a negative net margin of 17.81%. The firm’s revenue for the quarter was up 50.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. As a group, equities research analysts expect that Maxar Technologies will post 3.85 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of MAXR. Public Employees Retirement System of Ohio acquired a new stake in shares of Maxar Technologies in the 2nd quarter valued at about $177,000. Trexquant Investment LP acquired a new stake in shares of Maxar Technologies in the 2nd quarter valued at about $233,000. GHP Investment Advisors Inc. acquired a new stake in shares of Maxar Technologies in the 3rd quarter valued at about $298,000. Paloma Partners Management Co acquired a new stake in shares of Maxar Technologies in the 2nd quarter valued at about $302,000. Finally, SG Americas Securities LLC grew its stake in shares of Maxar Technologies by 141.0% in the 2nd quarter. SG Americas Securities LLC now owns 7,305 shares of the company’s stock valued at $369,000 after buying an additional 4,274 shares during the period. Institutional investors own 84.96% of the company’s stock.

Maxar Technologies Company Profile

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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