Maxar Technologies (NYSE:MAXR)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Tuesday.
The analysts wrote, “Maxar reported Q2 results which we term as mixed, with EBITDA just below expectations and EPS ahead. The company tweaked its annual guidance �� there were a number of offsetting changes but, all-in-all, EBITDA margins are now seen at 33% (from 34%) and yet EPS is expected to be at the high-end of the prior guidance range. MAXR shares have rebounded but continue to trade at a discount to US peers (MAXR 8.0x vs. peers ~12x). Our BUY rating is based on the view that this discount should continue to narrow as the company delivers: 1) evidence that the space systems business is forming a bottom in 2018; 2) improving visibility to cash flow after heavier near-term capex related to the 3) data points suggesting the US access plan is translating into revenue growth. We maintain a BUY rating with a US$70 target. There is a call at 8:30am.””
Get Maxar Technologies alerts:Other research analysts also recently issued research reports about the company. Scotiabank downgraded Maxar Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $60.00 to $56.00 in a research note on Thursday, May 10th. National Bank Financial upgraded Maxar Technologies from a “sector perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Thursday, May 10th. Royal Bank of Canada raised their target price on Maxar Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 10th. Zacks Investment Research upgraded Maxar Technologies from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Saturday, May 12th. Finally, TD Securities cut their target price on Maxar Technologies from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Maxar Technologies has a consensus rating of “Buy” and a consensus target price of $63.56.
MAXR traded down $0.04 during trading hours on Tuesday, hitting $45.87. The stock had a trading volume of 16,743 shares, compared to its average volume of 301,750. Maxar Technologies has a 1 year low of $42.11 and a 1 year high of $67.30. The firm has a market cap of $2.90 billion and a P/E ratio of 21.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.90 and a current ratio of 1.03.
Maxar Technologies (NYSE:MAXR) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. Maxar Technologies had a return on equity of 11.77% and a net margin of 3.95%. The company had revenue of $578.90 million during the quarter, compared to analyst estimates of $727.18 million. The business’s revenue for the quarter was up 54.3% on a year-over-year basis. research analysts predict that Maxar Technologies will post 4.73 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. bought a new stake in shares of Maxar Technologies during the 4th quarter valued at about $277,000. Amalgamated Bank bought a new stake in shares of Maxar Technologies during the 2nd quarter valued at about $390,000. Wells Fargo & Company MN bought a new stake in shares of Maxar Technologies during the 4th quarter valued at about $464,000. Independent Investors Inc. bought a new stake in shares of Maxar Technologies during the 1st quarter valued at about $508,000. Finally, Quantbot Technologies LP bought a new stake in shares of Maxar Technologies during the 1st quarter valued at about $585,000. Institutional investors and hedge funds own 70.99% 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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