Mercer International (NASDAQ:MERC) Given New $7.00 Price Target at Raymond James

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective lowered by Raymond James from $7.50 to $7.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

Several other brokerages have also recently weighed in on MERC. StockNews.com upgraded Mercer International from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 price target on shares of Mercer International in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.25.

Mercer International Trading Up 2.7 %

Mercer International stock opened at $6.86 on Thursday. The company has a 50 day moving average of $6.45 and a 200-day moving average of $6.59. The company has a current ratio of 3.79, a quick ratio of 2.39 and a debt-to-equity ratio of 3.09. Mercer International has a twelve month low of $5.33 and a twelve month high of $11.20.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its earnings results on Thursday, October 31st. The basic materials company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. The firm had revenue of $502.14 million for the quarter, compared to analysts’ expectations of $485.84 million. Mercer International had a negative return on equity of 17.62% and a negative net margin of 9.33%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) EPS. Equities analysts predict that Mercer International will post -1.44 EPS for the current year.

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently bought and sold shares of the company. Entropy Technologies LP acquired a new position in Mercer International during the third quarter worth approximately $75,000. BNP Paribas Financial Markets increased its holdings in shares of Mercer International by 22.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 6,786 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Mercer International by 505.8% during the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 41,315 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Mercer International by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock valued at $3,559,000 after acquiring an additional 8,957 shares during the period. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.