Maxar Technologies Inc. (NYSE:MAXR) has recently attracted a rating of “Hold” from twelve analysts, as reported by Bloomberg. Out of these twelve analysts, one rated the stock as a sell, six assigned it a hold rating, while four gave it a buy rating. This data suggests mixed reviews among industry experts regarding investment possibilities in this particular company.
Furthermore, brokers who have issued ratings on MAXR in the last year predict an average 1-year price target of $43.80 for the company’s stocks. This forecast could serve as valuable information for those interested in placing their bets in the market.
Additionally, shareholders were recently informed that there will be a quarterly dividend payout by Maxar Technologies Inc., which shall be given on March 31st. Record holders as of March 15th are eligible for the dividend of $0.01 per share. The annuitized dividend is calculated to be $0.04 and yields 0.08%, promoting speculation on the current status and future direction of this technological giant.
Several institutional investors have significantly expanded their stake in MAXR over recent months; Zurcher Kantonalbank Zurich Cantonalbank increased its holdings by 2.6% during Q4 2020 and now owns stocks worth $572k after acquiring an additional 282 shares throughout that period. Amalgamated Bank also raised its holdings in MAXR by 3.4%, taking position ownership up to $500k with an additional purchase of 318 shares during Q4 2020.
The investment management trend continued with SummerHaven Investment Management LLC increasing its position by approximately 1.4%, owning up to $1,590m; and Keeley Teton Advisors LLC contributing a nominal percentage increment following another purchase of 508 shares, bringing final company ownership value to $10,050m under their guidance.
Finally, MetLife Investment Management LLC raised its holdings in MAXR by 1.4% during Q4 2020, increasing its ownership to $2,027m with an additional purchase of 525 shares during the period. In total, institutional investors and hedge funds possess approximately 78.52% of MAXR’s stock.
This suggests that despite mixed analyst opinions and the competitive nature of the technology market, MAXR continues to thrive on a significant level within the industry.
Mixed Analyst Reports and Insider Selling Surround Maxar Technologies
Maxar Technologies (NYSE:MAXR) has been the subject of several research reports in recent weeks, with mixed results from various analysts. Morgan Stanley lowered their price target on the company’s shares from $43.00 to $42.00 and set an “overweight” rating on the stock in a report released on December 14th, 2016. Robert W. Baird, they downgraded Maxar Technologies shares from outperform to neutral rating while boosting its share price target by $8 per share to $53 in another report issued on December 19th, 2016. Following reports from Royal Bank of Canada and Canaccord Genuity Group who both reiterated their “hold” ratings respectively, BMO Capital Markets have been one of the more bullish analysts in recent weeks having raised their own price target for shares of Maxar Technologies increasing it to $53 from $27 a share.
In other news concerning the company, SVP Jeff Robertson III had chosen to sell off his personal holding of roughly over 9k shares at an average cost of around $51 each back in February 28th raising nearly half a million dollars about three days after announcing a quarterly dividend payment worth approximately four cents per share which will be paid out on March 31st, with shareholders recorded as owning stock as far back as March 15th being eligible for the payout.
The current value for NYSE MAXR’s stock is above its simple moving average by approximately one percent and experts predict total earnings per share coming at around $1.05 for fiscal year end going into Q2 likely due to negative net margins attributed to maintenance expenses possibly resulting in earlier reported missed consensus earnings estimates at ($1.09) two months ago on February 22nd leading some experts such as Robert W Baird to lower their previous outperform expectations amidst lower overall equity market sentiment leading into Q2 trading sessions.
Maxar Technologies has reportedly struggled with negative net margins, high maintenance costs having tried to diversify its business into a space tourism provider and Earth Imaging services through an extensive in-house acquisition spree. Total insider sales since the last quarterly earnings report have amounted to over $6M with 2.49% of total outstanding company stock being liquidated by corporate insiders indicating lower than average confidence levels among Maxar Technologies’ top executives regarding their company’s overall market outlook.
As Maxar Technologies steps into the second calendar quarter of 2017, it’s possible that recent management changes may help bolster investor confidence in renewed profit growth opportunities; amidst this expectation Maxar Technology shares are expected to continue to be weighed upon back by sluggish performance and investors remain cautiously optimistic about its outlook in Q2-2017.
