Linamar (LNR) to Release Quarterly Earnings on Thursday

Linamar (TSE:LNR) is scheduled to release its earnings data after the market closes on Thursday, August 8th. Analysts expect Linamar to post earnings of C$2.70 per share for the quarter.

Linamar (TSE:LNR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C$2.59 EPS for the quarter, topping analysts’ consensus estimates of C$2.12 by C$0.47. The firm had revenue of C$2.72 billion for the quarter, compared to analyst estimates of C$2.70 billion. Linamar had a net margin of 5.55% and a return on equity of 10.76%.

Linamar Stock Down 3.2 %

Shares of Linamar stock traded down C$2.03 during trading hours on Tuesday, hitting C$61.48. 129,468 shares of the company’s stock traded hands, compared to its average volume of 85,781. The company has a market cap of C$3.79 billion, a PE ratio of 6.70, a PEG ratio of 1.12 and a beta of 1.48. Linamar has a twelve month low of C$56.78 and a twelve month high of C$77.69. The company has a quick ratio of 0.75, a current ratio of 1.66 and a debt-to-equity ratio of 47.60. The stock has a 50 day simple moving average of C$67.66 and a 200-day simple moving average of C$67.67.

Linamar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Monday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, May 24th. Linamar’s payout ratio is currently 10.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LNR shares. TD Securities reduced their price target on shares of Linamar from C$97.00 to C$95.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets lifted their target price on Linamar from C$80.00 to C$90.00 in a research note on Thursday, May 9th. CIBC upped their target price on Linamar from C$90.00 to C$92.00 in a report on Thursday, May 9th. Raymond James raised their price target on Linamar from C$70.00 to C$74.00 in a report on Thursday, May 9th. Finally, Scotiabank boosted their price objective on Linamar from C$85.00 to C$90.00 in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Linamar currently has an average rating of “Moderate Buy” and a consensus target price of C$88.20.

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.