Linamar (TSE:LNR) Price Target Cut to C$89.00

Linamar (TSE:LNR) had its target price cut by TD Securities from C$92.00 to C$89.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. BMO Capital Markets cut their price target on Linamar from C$90.00 to C$80.00 in a research note on Friday, August 9th. CIBC cut their target price on Linamar from C$92.00 to C$88.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Linamar has a consensus rating of Moderate Buy and an average target price of C$84.20.

Linamar Price Performance

Shares of LNR opened at C$64.61 on Monday. The business’s fifty day moving average is C$63.08 and its 200 day moving average is C$66.49. Linamar has a 12-month low of C$56.78 and a 12-month high of C$73.84. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The stock has a market cap of C$3.98 billion, a P/E ratio of 6.59, a P/E/G ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last released its quarterly earnings data on Thursday, August 8th. The company reported C$3.06 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.70 by C$0.36. The firm had revenue of C$2.85 billion for the quarter, compared to analyst estimates of C$2.92 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. Sell-side analysts anticipate that Linamar will post 11.4332724 earnings per share for the current fiscal year.

Linamar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, August 23rd. Linamar’s dividend payout ratio is presently 10.20%.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.