Maxar Technologies (MAXR) PT Lowered to $65.00 at Royal Bank of Canada

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Maxar Technologies (NYSE:MAXR) had its target price lowered by equities researchers at Royal Bank of Canada from $73.00 to $65.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 110.49% from the company’s previous close.

Several other research firms also recently weighed in on MAXR. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Maxar Technologies in a research report on Tuesday, July 17th. National Bank Financial upgraded Maxar Technologies from a “sector perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Thursday, May 10th. TD Securities decreased their price objective on Maxar Technologies from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. Scotiabank cut Maxar Technologies from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $60.00 to $56.00 in a report on Thursday, May 10th. Finally, Zacks Investment Research upgraded Maxar Technologies from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Saturday, May 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $62.00.

NYSE MAXR traded up $1.54 during mid-day trading on Wednesday, hitting $30.88. The stock had a trading volume of 36,068 shares, compared to its average volume of 636,642. Maxar Technologies has a 52-week low of $29.06 and a 52-week high of $67.30. The company has a market capitalization of $1.84 billion and a P/E ratio of 14.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 0.91.

Maxar Technologies (NYSE:MAXR) last released its quarterly earnings data on Tuesday, July 31st. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.14. Maxar Technologies had a return on equity of 11.10% and a net margin of 3.95%. The firm had revenue of $578.90 million during the quarter, compared to the consensus estimate of $727.18 million. The firm’s revenue was up 54.3% compared to the same quarter last year. research analysts expect that Maxar Technologies will post 4.65 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Maxar Technologies by 72,953.9% in the second quarter. BlackRock Inc. now owns 2,658,433 shares of the company’s stock valued at $134,303,000 after acquiring an additional 2,654,794 shares during the last quarter. Fiera Capital Corp acquired a new position in Maxar Technologies in the second quarter valued at $109,848,000. Mawer Investment Management Ltd. acquired a new position in Maxar Technologies in the first quarter valued at $61,243,000. First Trust Advisors LP acquired a new position in Maxar Technologies in the second quarter valued at $21,817,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Maxar Technologies during the second quarter worth about $14,326,000. Institutional investors and hedge funds own 88.18% 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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