Raymond James Has Lowered Expectations for Mercer International (NASDAQ:MERC) Stock Price

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective trimmed by Raymond James from $7.50 to $7.00 in a report released on Tuesday morning,BayStreet.CA reports. Raymond James also issued estimates for Mercer International’s FY2024 earnings at ($1.44) EPS, FY2025 earnings at ($0.29) EPS and FY2026 earnings at ($0.04) EPS.

Several other research analysts also recently weighed in on the company. StockNews.com raised Mercer International from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and set a $7.00 price objective on shares of Mercer International in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.25.

Mercer International Stock Performance

MERC opened at $6.50 on Tuesday. The firm has a fifty day moving average price of $6.41 and a 200 day moving average price of $6.65. Mercer International has a 1 year low of $5.33 and a 1 year high of $11.20. The stock has a market cap of $434.66 million, a P/E ratio of -2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.79 and a quick ratio of 2.39.

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

Mercer International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 18th were issued a $0.075 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $0.30 dividend on an annualized basis and a yield of 4.62%. Mercer International’s payout ratio is currently -10.60%.

Institutional Investors Weigh In On Mercer International

A number of large investors have recently modified their holdings of the business. Entropy Technologies LP purchased a new position in shares of Mercer International in the third quarter worth about $75,000. BNP Paribas Financial Markets lifted its stake in Mercer International by 22.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 6,786 shares in the last quarter. Quantbot Technologies LP boosted 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 purchasing an additional 41,315 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Mercer International by 1.7% in the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock valued at $3,559,000 after purchasing an additional 8,957 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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.