Martinrea International Inc (TSE:MRE) – Cormark increased their FY2022 earnings per share estimates for shares of Martinrea International in a research report issued on Wednesday, October 31st. Cormark analyst D. Tyerman now forecasts that the company will post earnings per share of $3.63 for the year, up from their previous estimate of $3.57.
Martinrea International (TSE:MRE) last announced its earnings results on Wednesday, August 8th. The company reported C$0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.63 by C$0.01. The company had revenue of C$921.71 million for the quarter, compared to analyst estimates of C$947.75 million. Martinrea International had a return on equity of 13.91% and a net margin of 3.68%.
MRE has been the topic of a number of other research reports. CIBC raised their price objective on Martinrea International from C$17.00 to C$20.00 in a research note on Thursday, September 13th. TD Securities lowered their price objective on Martinrea International from C$18.50 to C$16.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada raised their price objective on Martinrea International from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th.
Martinrea International stock opened at C$11.70 on Thursday. Martinrea International has a one year low of C$10.71 and a one year high of C$17.50.
In other Martinrea International news, insider Peter Cirulis purchased 2,850 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were bought at an average price of C$10.31 per share, for a total transaction of C$29,383.50.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Sunday, September 30th were paid a $0.045 dividend. This is a positive change from Martinrea International’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, September 27th. This represents a $0.18 annualized dividend and a dividend yield of 1.54%.
About Martinrea International
Martinrea International Inc designs, engineers, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. The company offers aluminum products, including engine blocks, oil pans, cam carriers, camshaft and transmission housings, sub frames, knuckles, control arms, longitudinal and cross members, shock towers, components for electric vehicles, fabrication and modules, and aluminum plates and coils.
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