Linamar (LNR) to Release Earnings on Thursday

Linamar (TSE:LNR) is scheduled to post its quarterly earnings results after the market closes on Thursday, August 8th. Analysts expect Linamar to post earnings of C$2.70 per share for the quarter.

Linamar (TSE:LNR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$2.59 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.12 by C$0.47. The business had revenue of C$2.72 billion for the quarter, compared to the consensus estimate of C$2.70 billion. Linamar had a return on equity of 10.76% and a net margin of 5.55%.

Linamar Stock Down 3.2 %

Shares of Linamar stock traded down C$2.03 on Tuesday, hitting C$61.48. The company had a trading volume of 129,468 shares, compared to its average volume of 85,582. The stock has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 6.75, a P/E/G ratio of 1.12 and a beta of 1.48. Linamar has a 1 year low of C$56.78 and a 1 year high of C$77.69. The stock has a 50 day moving average of C$67.66 and a 200-day moving average of C$67.67. The company has a debt-to-equity ratio of 47.60, a quick ratio of 0.75 and a current ratio of 1.66.

Linamar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, May 24th. Linamar’s payout ratio is 10.91%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LNR. BMO Capital Markets lifted their price target on Linamar from C$80.00 to C$90.00 in a research report on Thursday, May 9th. Scotiabank lifted their price target on Linamar from C$85.00 to C$90.00 in a research note on Thursday, May 9th. Raymond James lifted their price target on Linamar from C$70.00 to C$74.00 in a research note on Thursday, May 9th. CIBC lifted their price target on Linamar from C$90.00 to C$92.00 in a research note on Thursday, May 9th. Finally, TD Securities lowered their target price on Linamar from C$97.00 to C$95.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Linamar presently has a consensus rating of “Moderate Buy” and a consensus price target of C$88.20.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.