Mercer International (NASDAQ:MERC) Downgraded by StockNews.com

StockNews.com cut shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a hold rating to a sell rating in a research report released on Wednesday.

MERC has been the topic of a number of other research reports. TD Securities increased their target price on Mercer International from $10.00 to $10.50 and gave the stock a hold rating in a research note on Tuesday, April 16th. Raymond James raised their price target on shares of Mercer International from $8.50 to $10.50 and gave the stock a market perform rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $9.67.

Mercer International Trading Up 5.5 %

Shares of Mercer International stock traded up $0.36 during trading on Wednesday, hitting $6.93. The stock had a trading volume of 468,320 shares, compared to its average volume of 249,593. Mercer International has a 12 month low of $6.18 and a 12 month high of $11.20. The company has a debt-to-equity ratio of 2.82, a current ratio of 3.74 and a quick ratio of 2.38. The firm’s fifty day simple moving average is $8.16 and its 200-day simple moving average is $9.01. The stock has a market cap of $463.27 million, a PE ratio of -2.02 and a beta of 1.36.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.08). Mercer International had a negative net margin of 11.27% and a negative return on equity of 26.21%. The business had revenue of $499.40 million for the quarter, compared to analysts’ expectations of $482.35 million. During the same quarter last year, the firm earned ($1.48) EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Mercer International will post -0.49 EPS for the current fiscal year.

Mercer International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Wednesday, September 25th. Mercer International’s dividend payout ratio (DPR) is presently -8.75%.

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently modified their holdings of the business. Everence Capital Management Inc. bought a new position in Mercer International in the first quarter worth approximately $261,000. Russell Investments Group Ltd. bought a new position in shares of Mercer International in the 1st quarter worth $193,000. Finally, SG Americas Securities LLC lifted its stake in shares of Mercer International by 26.5% during the 1st quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company’s stock worth $509,000 after purchasing an additional 10,713 shares during the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Mercer International Company Profile

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.