Maxar Technologies (NYSE:MAXR) Stock Price Up 5.3% After Dividend Announcement

Maxar Technologies Inc (NYSE:MAXR) shares rose 5.3% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $18.28 and last traded at $17.90, approximately 1,106,597 shares traded hands during mid-day trading. A decline of 39% from the average daily volume of 1,815,933 shares. The stock had previously closed at $17.00.

The newly announced dividend which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date is Monday, September 14th. Maxar Technologies’s dividend payout ratio is currently -1.90%.

Several research analysts recently weighed in on MAXR shares. Zacks Investment Research upgraded Maxar Technologies from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, July 15th. Royal Bank of Canada reiterated a “buy” rating and set a $21.00 price target on shares of Maxar Technologies in a research report on Thursday. Canaccord Genuity reiterated a “hold” rating and set a $13.00 price target on shares of Maxar Technologies in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on Maxar Technologies from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, TD Securities lifted their price target on Maxar Technologies from $20.00 to $25.00 and gave the company a “speculative buy” rating in a research report on Thursday, June 25th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Maxar Technologies has a consensus rating of “Hold” and a consensus target price of $17.60.

The stock has a 50-day moving average price of $16.55 and a 200 day moving average price of $14.55. The company has a debt-to-equity ratio of 4.45, a current ratio of 1.26 and a quick ratio of 1.23.

Maxar Technologies (NYSE:MAXR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.69) by ($0.38). The business had revenue of $381.00 million during the quarter, compared to analysts’ expectations of $420.00 million. Maxar Technologies had a net margin of 6.53% and a negative return on equity of 16.07%. As a group, sell-side analysts anticipate that Maxar Technologies Inc will post -1.91 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Optimum Investment Advisors acquired a new stake in shares of Maxar Technologies in the second quarter worth approximately $27,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Maxar Technologies by 100.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,999 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Maxar Technologies in the first quarter worth approximately $34,000. Meeder Asset Management Inc. acquired a new stake in shares of Maxar Technologies in the first quarter worth approximately $51,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Maxar Technologies in the second quarter worth approximately $93,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.

Maxar Technologies Company Profile (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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