Mercer International (NASDAQ:MERC) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Mercer International (NASDAQ:MERC) (TSE:MRI.U) issued its quarterly earnings data on Thursday. The basic materials company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03, Briefing.com reports. Mercer International had a negative net margin of 9.90% and a negative return on equity of 17.93%. The business had revenue of $502.14 million during the quarter, compared to analysts’ expectations of $485.84 million. During the same period last year, the company posted ($0.39) EPS. The company’s revenue was up 6.7% on a year-over-year basis.

Mercer International Stock Down 1.2 %

Mercer International stock traded down $0.08 during trading on Friday, reaching $6.44. 672,553 shares of the company’s stock were exchanged, compared to its average volume of 358,226. The company’s 50-day moving average is $6.47 and its two-hundred day moving average is $7.93. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.17 and a current ratio of 3.46. Mercer International has a 52-week low of $5.33 and a 52-week high of $11.20. The firm has a market cap of $430.64 million, a price-to-earnings ratio of -2.20 and a beta of 1.34.

Mercer International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.30 annualized dividend and a dividend yield of 4.66%. Mercer International’s payout ratio is -10.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Mercer International from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Monday, August 12th. StockNews.com raised Mercer International from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, CIBC reduced their target price on Mercer International from $10.00 to $8.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Mercer International has a consensus rating of “Hold” and an average target price of $9.38.

Insiders Place Their Bets

In other news, CEO Estrada Juan Carlos Bueno purchased 7,800 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $6.60 per share, with a total value of $51,480.00. Following the purchase, the chief executive officer now directly owns 67,615 shares of the company’s stock, valued at approximately $446,259. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Estrada Juan Carlos Bueno purchased 7,800 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $6.60 per share, with a total value of $51,480.00. Following the completion of the transaction, the chief executive officer now owns 67,615 shares of the company’s stock, valued at $446,259. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rainer Rettig acquired 5,000 shares of Mercer International stock in a transaction on Monday, September 9th. The shares were bought at an average price of $6.24 per share, for a total transaction of $31,200.00. Following the completion of the purchase, the director now directly owns 42,463 shares in the company, valued at $264,969.12. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 41,300 shares of company stock worth $252,650 over the last quarter. 4.20% of the stock is owned by corporate insiders.

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.