Mercer International (NASDAQ:MERC) PT Lowered to $8.50 at CIBC

Mercer International (NASDAQ:MERC) (TSE:MRI.U) had its target price lowered by CIBC from $10.00 to $8.50 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

A number of other brokerages have also issued reports on MERC. StockNews.com lowered shares of Mercer International from a hold rating to a sell rating in a report on Wednesday, August 7th. Raymond James raised their price objective on shares of Mercer International from $8.50 to $10.50 and gave the company a market perform rating in a report on Friday, April 19th. TD Securities raised their price target on shares of Mercer International from $10.00 to $10.50 and gave the stock a hold rating in a report on Tuesday, April 16th. Finally, Royal Bank of Canada lowered their price target on shares of Mercer International from $10.00 to $8.00 and set a sector perform rating for the company in a report on Monday. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $9.25.

Mercer International Price Performance

Shares of MERC stock traded down $0.11 on Tuesday, reaching $6.13. The company had a trading volume of 40,398 shares, compared to its average volume of 249,077. The business’s 50-day moving average is $7.92 and its 200 day moving average is $8.94. The stock has a market capitalization of $409.79 million, a PE ratio of -1.82 and a beta of 1.36. Mercer International has a one year low of $6.10 and a one year high of $11.20. The company has a quick ratio of 2.38, a current ratio of 3.74 and a debt-to-equity ratio of 2.82.

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

Mercer International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Wednesday, September 25th. Mercer International’s dividend payout ratio (DPR) is -8.75%.

Institutional Trading of Mercer International

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

About Mercer International

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.