Maxar Technologies (NYSE:MAXR) Trading Down 11.3%

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Shares of Maxar Technologies Inc (NYSE:MAXR) dropped 11.3% during trading on Thursday . The stock traded as low as $16.15 and last traded at $14.61, approximately 107,842 shares were traded during trading. A decline of 94% from the average daily volume of 1,897,763 shares. The stock had previously closed at $16.47.

MAXR has been the subject of several research reports. Raymond James decreased their price target on shares of Maxar Technologies from $20.00 to $17.00 and set a “market perform” rating for the company in a report on Tuesday, May 12th. National Bank Financial decreased their price target on shares of Maxar Technologies from $20.00 to $13.00 and set a “sector perform” rating for the company in a report on Thursday, April 9th. Canaccord Genuity restated a “hold” rating and set a $13.00 price target on shares of Maxar Technologies in a report on Tuesday, May 12th. Zacks Investment Research raised shares of Maxar Technologies from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of Maxar Technologies from $11.00 to $12.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Maxar Technologies currently has a consensus rating of “Hold” and an average target price of $17.44.

The company has a market cap of $995.71 million, a P/E ratio of 7.55 and a beta of 1.41. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 4.45. The stock’s 50-day moving average price is $12.34 and its 200 day moving average price is $13.72.

Maxar Technologies (NYSE:MAXR) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.69) by ($0.38). Maxar Technologies had a net margin of 6.53% and a negative return on equity of 16.07%. The firm had revenue of $381.00 million during the quarter, compared to the consensus estimate of $420.00 million. Analysts expect that Maxar Technologies Inc will post -1.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, June 12th. Maxar Technologies’s dividend payout ratio is -1.90%.

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Maxar Technologies by 1.4% during the first quarter. State Street Corp now owns 5,762,406 shares of the company’s stock worth $61,542,000 after acquiring an additional 79,083 shares during the period. BlackRock Inc. increased its position in Maxar Technologies by 0.4% during the first quarter. BlackRock Inc. now owns 4,327,720 shares of the company’s stock worth $46,219,000 after acquiring an additional 18,845 shares during the period. Russell Investments Group Ltd. boosted its stake in Maxar Technologies by 504.8% during the first quarter. Russell Investments Group Ltd. now owns 3,290,051 shares of the company’s stock worth $35,137,000 after buying an additional 2,746,041 shares in the last quarter. Geode Capital Management LLC boosted its stake in Maxar Technologies by 7.1% during the first quarter. Geode Capital Management LLC now owns 840,930 shares of the company’s stock worth $8,981,000 after buying an additional 55,406 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Maxar Technologies by 3,349.8% during the fourth quarter. Citigroup Inc. now owns 642,533 shares of the company’s stock worth $10,069,000 after buying an additional 623,908 shares in the last quarter. 74.08% of the stock is currently owned by institutional investors.

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.

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