Scotiabank Comments on Linamar’s FY2024 Earnings (TSE:LNR)

Linamar Co. (TSE:LNR) – Scotiabank dropped their FY2024 EPS estimates for Linamar in a report released on Wednesday, January 8th. Scotiabank analyst J. Goldman now anticipates that the company will post earnings per share of $9.51 for the year, down from their prior forecast of $9.80. Scotiabank currently has a “Sector Perform” rating and a $77.00 price target on the stock. The consensus estimate for Linamar’s current full-year earnings is $11.43 per share. Scotiabank also issued estimates for Linamar’s FY2025 earnings at $9.35 EPS.

Linamar (TSE:LNR) last released its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The company had revenue of C$2.64 billion during the quarter, compared to the consensus estimate of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%.

Several other brokerages have also recently commented on LNR. TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$89.00 to C$68.00 in a research report on Wednesday, November 13th. BMO Capital Markets lowered their target price on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. CIBC cut their price target on Linamar from C$85.00 to C$84.00 in a research note on Thursday, November 14th. Finally, Raymond James decreased their price objective on Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th.

Linamar Price Performance

Shares of LNR stock opened at C$55.30 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. Linamar has a 12 month low of C$54.74 and a 12 month high of C$73.84. The firm has a market cap of C$3.41 billion, a price-to-earnings ratio of 5.64, a PEG ratio of 1.12 and a beta of 1.41. The stock has a 50-day moving average price of C$59.22 and a 200 day moving average price of C$62.35.

Insiders Place Their Bets

In other Linamar news, insider Linamar Corporation bought 15,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was acquired at an average cost of C$63.01 per share, with a total value of C$945,097.50. Also, Director Linda Hasenfratz bought 50,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Over the last three months, insiders have bought 90,101 shares of company stock worth $5,475,561. Company insiders own 33.49% of the company’s stock.

Linamar Company Profile

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.