Mercer International (NASDAQ:MERC) Cut to Outperform at Raymond James

Raymond James lowered shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a strong-buy rating to an outperform rating in a research report report published on Tuesday morning, Briefing.com Automated Import reports. Raymond James also issued estimates for Mercer International’s Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.24 EPS and FY2019 earnings at $1.74 EPS.

A number of other research firms also recently commented on MERC. Royal Bank of Canada dropped their price objective on Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating for the company in a report on Monday, May 6th. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. CIBC increased their price target on Norbord from C$31.00 to C$35.00 in a report on Friday, July 5th. ValuEngine upgraded Valmont Industries from a sell rating to a hold rating in a report on Friday, July 12th. Finally, BidaskClub downgraded Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $22.00.

MERC traded up $0.17 on Tuesday, hitting $13.00. The company had a trading volume of 79,483 shares, compared to its average volume of 284,333. The stock’s fifty day simple moving average is $14.75. Mercer International has a 1-year low of $9.36 and a 1-year high of $19.14. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.65 and a current ratio of 3.98. The company has a market capitalization of $851.49 million, a PE ratio of 6.63 and a beta of 1.65.



Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Mercer International had a return on equity of 26.76% and a net margin of 9.82%. The company had revenue of $484.00 million for the quarter, compared to the consensus estimate of $476.87 million. During the same period in the previous year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. Analysts expect that Mercer International will post 2.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, June 24th were issued a $0.1375 dividend. This is an increase from Mercer International’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Friday, June 21st. Mercer International’s dividend payout ratio is 28.06%.

Institutional investors have recently made changes to their positions in the business. Renaissance Group LLC grew its holdings in shares of Mercer International by 2.7% during the first quarter. Renaissance Group LLC now owns 46,044 shares of the basic materials company’s stock worth $622,000 after buying an additional 1,219 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Mercer International during the fourth quarter worth about $28,000. Crossmark Global Holdings Inc. grew its holdings in shares of Mercer International by 19.1% during the second quarter. Crossmark Global Holdings Inc. now owns 21,120 shares of the basic materials company’s stock worth $327,000 after buying an additional 3,380 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Mercer International by 24.4% during the fourth quarter. United Services Automobile Association now owns 20,962 shares of the basic materials company’s stock worth $219,000 after buying an additional 4,107 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Mercer International by 22.3% during the second quarter. New York State Teachers Retirement System now owns 32,854 shares of the basic materials company’s stock worth $508,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 78.32% of the company’s stock.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.

Further Reading: Dividend Yield

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