Linamar (TSE:LNR) Price Target Lowered to C$70.00 at Raymond James

Linamar (TSE:LNR) had its price target trimmed by Raymond James from C$74.00 to C$70.00 in a report published on Thursday,BayStreet.CA reports. Raymond James also issued estimates for Linamar’s Q3 2024 earnings at $2.15 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $9.64 EPS and Q3 2025 earnings at $2.26 EPS.

LNR has been the topic of several other research reports. BMO Capital Markets decreased their price objective on Linamar from C$80.00 to C$75.00 in a report on Wednesday. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$89.00 to C$68.00 in a research report on Wednesday. Finally, CIBC dropped their target price on Linamar from C$85.00 to C$84.00 in a research report on Thursday.

Linamar Stock Down 0.2 %

Shares of LNR traded down C$0.14 during trading hours on Thursday, hitting C$60.84. 125,191 shares of the company were exchanged, compared to its average volume of 100,044. The firm’s 50 day moving average is C$61.68 and its 200-day moving average is C$64.97. Linamar has a 52 week low of C$54.95 and a 52 week high of C$73.84. The company has a market cap of C$3.75 billion, a PE ratio of 6.22, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68.

Linamar (TSE:LNR) last announced its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating the consensus estimate of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The firm had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. On average, equities research analysts forecast that Linamar will post 11.4332724 EPS for the current fiscal year.

About Linamar

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.