Linamar (TSE:LNR) Sets New 1-Year Low – Time to Sell?

Linamar Co. (TSE:LNR)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$56.70 and last traded at C$56.72, with a volume of 107160 shares traded. The stock had previously closed at C$56.97.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LNR shares. Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$86.00 to C$77.00 in a research note on Tuesday. CIBC lowered their price objective on Linamar from C$92.00 to C$88.00 in a research report on Friday, August 9th. BMO Capital Markets cut their target price on shares of Linamar from C$90.00 to C$80.00 in a research report on Friday, August 9th. Finally, TD Securities dropped their price target on shares of Linamar from C$92.00 to C$89.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$81.60.

Linamar Trading Down 0.6 %

The business has a 50 day moving average price of C$62.67 and a 200 day moving average price of C$65.53. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The company has a market capitalization of C$3.49 billion, a P/E ratio of 5.81, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last released its quarterly earnings data on Thursday, August 8th. The company reported C$3.06 EPS for the quarter, beating analysts’ consensus estimates of C$2.70 by C$0.36. The business had revenue of C$2.85 billion during the quarter, compared to analysts’ expectations of C$2.92 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. Analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current year.

Linamar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, August 23rd. Linamar’s dividend payout ratio (DPR) is presently 10.20%.

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.