BidaskClub downgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a strong sell rating in a research report released on Tuesday.
Several other research firms have also recently issued reports on MERC. TD Securities lifted their price objective on Mercer International from $21.00 to $23.00 and gave the stock a buy rating in a report on Friday, October 5th. Raymond James lifted their price objective on Mercer International from $19.00 to $19.50 and gave the stock an outperform rating in a report on Friday, July 27th. Royal Bank of Canada reiterated a buy rating and issued a $22.00 price objective on shares of Mercer International in a report on Thursday, July 19th. Finally, ValuEngine cut Mercer International from a buy rating to a hold rating in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $22.67.
MERC stock traded down $0.52 during trading on Tuesday, hitting $14.42. The stock had a trading volume of 25,173 shares, compared to its average volume of 464,598. The company has a current ratio of 3.88, a quick ratio of 2.57 and a debt-to-equity ratio of 1.29. Mercer International has a twelve month low of $12.05 and a twelve month high of $19.14. The stock has a market cap of $969.55 million, a price-to-earnings ratio of 7.74 and a beta of 1.65.
Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.11). Mercer International had a return on equity of 22.34% and a net margin of 9.06%. The firm had revenue of $331.06 million during the quarter.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 13th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, December 12th.
Several institutional investors have recently modified their holdings of MERC. United Services Automobile Association boosted its holdings in shares of Mercer International by 35.8% during the 2nd quarter. United Services Automobile Association now owns 16,180 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 4,266 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Mercer International during the 2nd quarter worth approximately $319,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Mercer International by 377.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,500 shares of the basic materials company’s stock worth $376,000 after purchasing an additional 17,000 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Mercer International by 7.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 132,529 shares of the basic materials company’s stock worth $2,319,000 after purchasing an additional 9,039 shares during the last quarter. Finally, James Investment Research Inc. boosted its holdings in shares of Mercer International by 92.4% during the 3rd quarter. James Investment Research Inc. now owns 269,843 shares of the basic materials company’s stock worth $4,533,000 after purchasing an additional 129,623 shares during the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.
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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