Martinrea International Inc Forecasted to Post FY2019 Earnings of $2.63 Per Share (MRE)

Martinrea International Inc (TSE:MRE) – Equities researchers at Cormark upped their FY2019 earnings per share (EPS) estimates for Martinrea International in a note issued to investors on Wednesday, October 31st. Cormark analyst D. Tyerman now forecasts that the company will post earnings of $2.63 per share for the year, up from their previous estimate of $2.62. Cormark also issued estimates for Martinrea International’s FY2020 earnings at $3.15 EPS and FY2021 earnings at $3.42 EPS.

Martinrea International (TSE:MRE) last announced its earnings results on Wednesday, August 8th. The company reported C$0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.63 by C$0.01. The firm had revenue of C$921.71 million during the quarter, compared to the consensus estimate of C$947.75 million.

A number of other research analysts have also weighed in on MRE. TD Securities reduced their price objective on Martinrea International from C$20.00 to C$18.50 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Royal Bank of Canada raised their price objective on Martinrea International from C$23.00 to C$24.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Finally, CIBC raised their price objective on Martinrea International from C$17.00 to C$20.00 in a research report on Thursday, September 13th.

MRE stock opened at C$11.78 on Friday. Martinrea International has a twelve month low of C$10.71 and a twelve month high of C$17.50.

In related news, insider Peter Cirulis acquired 2,850 shares of Martinrea International stock in a transaction that occurred on Friday, September 28th. The stock was bought at an average price of C$10.31 per share, with a total value of C$29,383.50.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Sunday, September 30th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, September 27th. This is a positive change from Martinrea International’s previous quarterly dividend of $0.03.

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.

Featured Article: Dow Jones Industrial Average (DJIA)

Earnings History and Estimates for Martinrea International (TSE:MRE)

Receive News & Ratings for Martinrea International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martinrea International and related companies with's FREE daily email newsletter.

Leave a Reply