Maxar Technologies (NYSE:MAXR) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Maxar Technologies (NYSE:MAXRGet Rating) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $39.00 price objective on the stock.

MAXR has been the topic of a number of other reports. Citigroup raised shares of Maxar Technologies from a hold rating to a buy rating and reduced their price target for the company from $42.00 to $38.00 in a research report on Tuesday, May 10th. They noted that the move was a valuation call. Canaccord Genuity Group lifted their price target on shares of Maxar Technologies to $40.00 and gave the company a buy rating in a research report on Wednesday, May 25th. BMO Capital Markets reduced their price target on shares of Maxar Technologies to C$33.00 in a research report on Wednesday, February 23rd. Bank of America cut shares of Maxar Technologies from a neutral rating to an underperform rating and reduced their price target for the company from $36.00 to $25.00 in a research report on Tuesday, May 17th. Finally, TD Securities lifted their price objective on shares of Maxar Technologies from $43.00 to $45.00 and gave the company a buy rating in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $39.07.

MAXR opened at $26.73 on Tuesday. The company’s 50 day simple moving average is $30.16 and its 200 day simple moving average is $30.74. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.76 and a current ratio of 0.82. Maxar Technologies has a 1 year low of $22.92 and a 1 year high of $42.59. The stock has a market capitalization of $1.97 billion, a PE ratio of 16.40, a P/E/G ratio of 2.54 and a beta of 1.31.

Maxar Technologies (NYSE:MAXRGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Maxar Technologies had a net margin of 6.90% and a return on equity of 5.39%. The business had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $416.49 million. During the same period last year, the company earned ($1.30) earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Maxar Technologies will post 0.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Tuesday, June 14th. Maxar Technologies’s dividend payout ratio is presently 2.45%.

In other Maxar Technologies news, SVP Elizabeth Andora sold 4,860 shares of Maxar Technologies stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $30.24, for a total value of $146,966.40. Following the completion of the transaction, the senior vice president now owns 42,367 shares of the company’s stock, valued at $1,281,178.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.49% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MAXR. Russell Investments Group Ltd. boosted its holdings in shares of Maxar Technologies by 149.6% during the fourth quarter. Russell Investments Group Ltd. now owns 1,111,325 shares of the company’s stock valued at $32,815,000 after acquiring an additional 666,027 shares during the period. Victory Capital Management Inc. lifted its holdings in Maxar Technologies by 2,493.9% in the fourth quarter. Victory Capital Management Inc. now owns 593,205 shares of the company’s stock worth $17,517,000 after purchasing an additional 570,336 shares during the period. Schroder Investment Management Group lifted its holdings in Maxar Technologies by 28.3% in the fourth quarter. Schroder Investment Management Group now owns 2,197,077 shares of the company’s stock worth $64,880,000 after purchasing an additional 484,325 shares during the period. State Street Corp lifted its holdings in Maxar Technologies by 14.4% in the first quarter. State Street Corp now owns 3,456,849 shares of the company’s stock worth $136,407,000 after purchasing an additional 434,992 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Maxar Technologies by 58.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,164,848 shares of the company’s stock worth $45,965,000 after purchasing an additional 431,902 shares during the period. 74.52% of the stock is owned by institutional investors.

About Maxar Technologies (Get Rating)

Maxar Technologies Inc provides earth intelligence and space infrastructure solutions in the United States, Asia, South America, Europe, the Middle East, Australia, Canada, and internationally. It operates through two segments, Earth Intelligence and Space Infrastructure. The Earth Intelligence segment offers earth imagery and other geospatial data sourced from its advanced satellite constellation and third-party providers to public sector and enterprise customers, as well as a provides advanced geospatial information, applications, and analytic services for national security and commercial solutions.

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