Mercer International (NASDAQ:MERC) Posts Earnings Results, Misses Estimates By $0.08 EPS

Mercer International (NASDAQ:MERC) (TSE:MRI.U) announced its quarterly earnings data on Thursday. The basic materials company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.08), Zacks reports. The company had revenue of $458.07 million during the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative net margin of 5.60% and a negative return on equity of 23.88%.

Mercer International Price Performance

NASDAQ:MERC traded down $0.04 during trading hours on Friday, reaching $1.84. 1,518,991 shares of the company traded hands, compared to its average volume of 573,554. The company has a debt-to-equity ratio of 3.42, a current ratio of 3.10 and a quick ratio of 1.73. The firm’s 50-day moving average is $2.70 and its 200-day moving average is $3.31. The stock has a market cap of $123.25 million, a P/E ratio of -1.13 and a beta of 0.94. Mercer International has a 1-year low of $1.55 and a 1-year high of $8.28.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Securities dropped their target price on shares of Mercer International from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercer International in a report on Wednesday. Finally, CIBC decreased their target price on Mercer International from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Mercer International has a consensus rating of “Reduce” and a consensus price target of $4.25.

Insider Activity

In related news, Director Linda J. Welty acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $3.09 per share, with a total value of $30,900.00. Following the completion of the purchase, the director directly owned 36,290 shares in the company, valued at approximately $112,136.10. The trade was a 38.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mercer International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gabelli Funds LLC purchased a new position in shares of Mercer International during the second quarter valued at approximately $1,804,000. Gamco Investors INC. ET AL purchased a new position in shares of Mercer International during the 2nd quarter worth $244,000. Finally, Jump Financial LLC lifted its stake in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after purchasing an additional 214,008 shares during the period. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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.