Linamar (TSE:LNR) Announces Earnings Results

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

Linamar Stock Down 1.0 %

Shares of TSE LNR opened at C$59.88 on Thursday. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. Linamar has a 1 year low of C$54.95 and a 1 year high of C$73.84. The stock’s 50-day simple moving average is C$61.72 and its 200-day simple moving average is C$65.00. The firm has a market cap of C$3.69 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 1.12 and a beta of 1.41.

Analyst Ratings Changes

A number of analysts recently weighed in on LNR shares. CIBC decreased their price target on shares of Linamar from C$88.00 to C$85.00 in a research report on Friday, November 8th. BMO Capital Markets reduced their price objective on Linamar from C$80.00 to C$75.00 in a research note on Wednesday. Scotiabank lowered Linamar from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. Finally, TD Securities downgraded Linamar from a “buy” rating to a “hold” rating and dropped their target price for the company from C$89.00 to C$68.00 in a report on Wednesday.

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.