Linamar (TSE:LNR) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Linamar (TSE:LNR) posted its quarterly earnings results on Tuesday. The company reported C$2.35 EPS for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20, reports. The company had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%.

Linamar Price Performance

Shares of LNR stock opened at C$60.98 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. The stock has a market cap of C$3.76 billion, a price-to-earnings ratio of 6.22, a PEG ratio of 1.12 and a beta of 1.41. The business’s fifty day moving average is C$61.68 and its 200 day moving average is C$64.97. Linamar has a twelve month low of C$54.95 and a twelve month high of C$73.84.

Analyst Ratings Changes

Several brokerages have recently commented on LNR. BMO Capital Markets lowered their price objective on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday. CIBC cut their price objective on Linamar from C$85.00 to C$84.00 in a research report on Thursday. Raymond James decreased their target price on Linamar from C$74.00 to C$70.00 in a report on Thursday. TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and cut their price target for the company from C$89.00 to C$68.00 in a report on Wednesday. Finally, Scotiabank lowered shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th.

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.