Martinrea International (TSE:MRE) Price Target Raised to C$17.50 at Scotiabank

Martinrea International (TSE:MRE) had its target price lifted by Scotiabank from C$16.00 to C$17.50 in a report issued on Friday morning, BayStreet.CA reports.

Several other brokerages have also recently issued reports on MRE. Raymond James decreased their price target on shares of Martinrea International from C$17.00 to C$15.00 and set an outperform rating for the company in a research report on Monday, November 8th. TD Securities decreased their price objective on shares of Martinrea International from C$16.00 to C$15.50 and set a buy rating for the company in a research report on Friday, November 5th. CIBC decreased their price objective on shares of Martinrea International from C$19.00 to C$16.00 and set an outperform rating for the company in a research report on Friday, November 5th. Pi Financial decreased their price objective on shares of Martinrea International from C$17.50 to C$15.50 and set a buy rating for the company in a research report on Tuesday, November 9th. Finally, ATB Capital reiterated an outperform rating on shares of Martinrea International in a research report on Tuesday, November 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of C$15.25.

Shares of TSE MRE opened at C$11.64 on Friday. The company has a debt-to-equity ratio of 101.79, a quick ratio of 0.70 and a current ratio of 1.28. Martinrea International has a 52-week low of C$9.59 and a 52-week high of C$15.55. The firm has a 50 day moving average price of C$11.01 and a two-hundred day moving average price of C$11.70. The stock has a market cap of C$935.47 million and a P/E ratio of 10.33.

Martinrea International (TSE:MRE) last announced its quarterly earnings results on Thursday, November 4th. The company reported C($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.30 by C($0.51). The business had revenue of C$848.50 million for the quarter, compared to analysts’ expectations of C$897.40 million. Analysts predict that Martinrea International will post 1.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 17th. Investors of record on Monday, January 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, December 30th. Martinrea International’s dividend payout ratio is presently 17.75%.

In other Martinrea International news, Director Terrence Lyons acquired 7,800 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were purchased at an average cost of C$11.03 per share, with a total value of C$85,995.00. Following the completion of the purchase, the director now owns 7,800 shares of the company’s stock, valued at C$85,995. Also, Director Robert Peter Edward Wildeboer acquired 3,000 shares of the company’s stock in a transaction on Tuesday, November 9th. The stock was acquired at an average cost of C$10.77 per share, for a total transaction of C$32,310.00. Following the completion of the purchase, the director now directly owns 528,000 shares of the company’s stock, valued at approximately C$5,686,560.

Martinrea International Company Profile

Martinrea International Inc designs, develops, 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. It offers engine blocks, transmissions, cases, housings, ladder frames, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules.

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Analyst Recommendations for Martinrea International (TSE:MRE)

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