Raymond James Cuts Mercer International (NASDAQ:MERC) Price Target to $7.00

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its price objective reduced by Raymond James from $7.50 to $7.00 in a research note 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.

A number of other analysts have also recently weighed in on MERC. Royal Bank of Canada reissued a “sector perform” rating and issued a $7.00 price objective on shares of Mercer International in a research report on Monday, November 4th. StockNews.com raised Mercer International from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.25.

Mercer International Price Performance

MERC opened at $6.50 on Tuesday. The firm has a market capitalization of $434.66 million, a PE 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. The business’s 50-day moving average is $6.41 and its two-hundred day moving average is $6.65. Mercer International has a 1 year low of $5.33 and a 1 year high of $11.20.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $502.14 million for the quarter, compared to the consensus estimate of $485.84 million. During the same quarter in the previous year, the firm earned ($0.39) EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts anticipate that Mercer International will post -1.44 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings 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 worth $3,559,000 after buying an additional 8,957 shares during the period. Quantbot Technologies LP increased its stake in shares of Mercer International by 505.8% in the third 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 period. BNP Paribas Financial Markets raised its holdings in shares of Mercer International by 22.7% during the third 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. Finally, Entropy Technologies LP acquired a new position in Mercer International during the third quarter valued at $75,000. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

About Mercer International

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.