- Oops!Something went wrong.Please try again later.
Maxar Technologies Inc. MAXR announced that it clinched a multi-year contract worth $35 million from an anonymous U.S.-based international defense and intelligence customer. Per the agreement, the prime customer will have first-hand access to Maxar’s avant-garde WorldView Legion satellite constellation. It can also leverage the company’s 3D data suite to improve situational awareness for the unnamed customer’s crucial government missions as part of the alliance.
With a global footprint in more than 70 countries, Maxar is recognized as a trusted name in the field of Earth Intelligence and Space Infrastructure. The company operates the world’s most sophisticated constellation of earth imaging satellites. It delivers ground-breaking technologies to enhance national intelligence with commercial imagery and expertise.
The industry-leading geospatial analytics facilitates end-users with best-in-class solutions. Its advanced bouquet of commercial satellite imagery helps armed forces to counter border security and monitor critical infrastructure, while preventing terrorism and insurgency.
Maxar’s constellation of high-resolution satellites is widely known for its unrivaled accuracy, which helps in making critical, time-sensitive decisions. The WorldView Legion is a fleet of advanced satellites, which are equipped with remote monitoring for enhanced support of emergency response and maritime surveillance. Its high-frequency collection of delicate imagery supports accurate mapping for a clearer understanding of on-ground conditions.
Designed to improve critical earth intelligence applications, the WorldView Legion satellite constellation gives Maxar the ability to revisit the most rapidly changing areas on earth up to 15 times per day. The revisits help in gathering information, which can be useful for national security and environmental sustainability. The satellites are also compatible with global infrastructure and access programs for Maxar customers. WorldView Legion satellites are anticipated to launch in 2021.
The company has been sharing an active working relationship for nearly 20 years with the unnamed partner. The recent contract enables the customer to directly capitalize on the state-of-the-art capabilities of Maxar’s WorldView Legion satellite fleet once they are operational under the Direct Access Program. As part of the program, the customer can directly task and download 30-cm high-quality satellite imagery to its ground station from Maxar’s current constellation on the back of encrypted downlinks and data-distribution rights pertaining to mission requirements.
Of late, the company has been making significant progress on its near-term priorities for sustained top and bottom-line growth. These comprise efforts to re-engineer the Space Solutions business, and position Imagery and Services businesses for long-term growth. It is also making efforts to provide greater value to its mission partners with a consistent focus on speed, expanded data sources and tools.
Markedly, the Westminster, CO-based company is making progress on its multi-year strategy to position it for sustained revenue, earnings and cash-flow growth. Based on the distinct operational strategies, Maxar’s extended collaboration with the U.S. ally is a positive endeavor.
Shares of the Zacks Rank #4 (Sell) company have rallied 123.1% compared with the industry’s growth of 43% in the past year.
Image Source: Zacks Investment Research
Some better-ranked stocks in the broader industry are ORBCOMM Inc. ORBC, Ooma, Inc. OOMA and SeaChange International, Inc. SEAC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ORBCOMM delivered a trailing four-quarter earnings surprise of 35.5%, on average.
Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.
SeaChange International delivered a trailing four-quarter earnings surprise of 12.2%, on average.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SeaChange International, Inc. (SEAC) : Free Stock Analysis Report
ORBCOMM Inc. (ORBC) : Free Stock Analysis Report
Ooma, Inc. (OOMA) : Free Stock Analysis Report
Maxar Technologies Inc. (MAXR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research