Linamar (TSE:LNR) Issues Earnings Results

Linamar (TSE:LNR) issued its quarterly earnings data on Tuesday. The company reported C$2.35 EPS for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20, reports. The firm had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%.

Linamar Trading Up 1.8 %

Shares of Linamar stock opened at C$60.98 on Friday. The company has a 50 day simple moving average of C$61.68 and a two-hundred day simple moving average of C$64.97. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75. The firm has a market cap of C$3.76 billion, a PE ratio of 6.22, a PEG ratio of 1.12 and a beta of 1.41. Linamar has a 1 year low of C$54.95 and a 1 year high of C$73.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Securities cut Linamar from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$89.00 to C$68.00 in a research note on Wednesday. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. CIBC decreased their price objective on Linamar from C$85.00 to C$84.00 in a report on Thursday. Raymond James lowered their price objective on Linamar from C$74.00 to C$70.00 in a research note on Thursday. Finally, BMO Capital Markets cut their target price on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday.

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.