Mercer International (NASDAQ:MERC) Price Target Cut to $7.00 by Analysts at Raymond James

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective cut by research analysts at Raymond James from $7.50 to $7.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Raymond James’ price target would suggest a potential upside of 1.97% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $7.00 price objective on shares of Mercer International in a research note on Monday, November 4th. StockNews.com upgraded shares of Mercer International from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.25.

Mercer International Stock Performance

MERC traded up $0.19 during trading on Thursday, hitting $6.87. 42,598 shares of the stock were exchanged, compared to its average volume of 254,960. The company has a quick ratio of 2.39, a current ratio of 3.79 and a debt-to-equity ratio of 3.09. Mercer International has a 1-year low of $5.33 and a 1-year high of $11.20. The stock has a fifty day moving average price of $6.44 and a two-hundred day moving average price of $6.59. The firm has a market capitalization of $459.06 million, a P/E ratio of -2.42 and a beta of 1.29.

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

Institutional Investors Weigh In On Mercer International

Institutional investors and hedge funds have recently modified their holdings of the company. Entropy Technologies LP acquired a new position in Mercer International during the third quarter worth about $75,000. BNP Paribas Financial Markets raised its position 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 purchasing an additional 6,786 shares during the last quarter. Quantbot Technologies LP lifted its stake in Mercer International by 505.8% in the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock valued at $335,000 after buying an additional 41,315 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Mercer International by 1.7% during 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 buying an additional 8,957 shares during the last quarter. Institutional investors and hedge funds 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.