Zacks Investment Research cut shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.
According to Zacks, “Mercer International Inc. owns and operates a diverse pulp and paper business in the southern German states of Saxony and Thuringia, in the former East Germany. The Company operates it’s pulp business primarily through its subsidiaries, Spezialpapierfabrik Blankenstein GmbH and Zellstof-und Papierfabrik Rosenthal GmbH & Co. KG , and conducts its paper business through another subsidiary, Dresden Papier GmbH. “
A number of other analysts have also commented on the stock. BidaskClub lowered shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Raymond James reaffirmed a buy rating and set a $41.00 target price on shares of Norbord in a report on Tuesday, July 16th. CIBC lifted their target price on shares of Norbord from C$31.00 to C$35.00 in a report on Friday, July 5th. TD Securities boosted their price target on shares of Westshore Terminals Investment from C$20.00 to C$21.00 and gave the company a hold rating in a report on Monday, May 6th. Finally, Royal Bank of Canada decreased their price target on shares of Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating for the company in a report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $22.00.
MERC opened at $12.99 on Friday. The stock’s fifty day simple moving average is $14.66. The company has a quick ratio of 2.65, a current ratio of 3.98 and a debt-to-equity ratio of 1.68. Mercer International has a 52 week low of $9.36 and a 52 week high of $19.14. The firm has a market cap of $863.31 million, a price-to-earnings ratio of 6.63 and a beta of 1.65.
Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Mercer International had a net margin of 9.82% and a return on equity of 26.76%. The firm had revenue of $484.00 million during the quarter, compared to analyst estimates of $476.87 million. During the same quarter in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts forecast that Mercer International will post 1.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, June 24th were issued a $0.1375 dividend. This is a positive change from Mercer International’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, June 21st. This represents a $0.55 annualized dividend and a dividend yield of 4.23%. Mercer International’s payout ratio is 28.06%.
Several hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in Mercer International during the 4th quarter worth about $28,000. United Services Automobile Association lifted its stake in Mercer International by 24.4% during the 4th quarter. United Services Automobile Association now owns 20,962 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 4,107 shares in the last quarter. Walthausen & Co. LLC lifted its stake in Mercer International by 9.5% during the 4th quarter. Walthausen & Co. LLC now owns 895,199 shares of the basic materials company’s stock worth $9,346,000 after acquiring an additional 77,950 shares in the last quarter. Arizona State Retirement System acquired a new position in Mercer International during the 1st quarter worth about $897,000. Finally, Janney Montgomery Scott LLC lifted its stake in Mercer International by 81.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,124 shares of the basic materials company’s stock worth $312,000 after acquiring an additional 10,375 shares in the last quarter. 78.30% of the stock is owned by institutional investors.
About Mercer International
Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.
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