Linamar (TSE:LNR) Price Target Lowered to C$70.00 at Raymond James

Linamar (TSE:LNR) had its price objective decreased by equities research analysts at Raymond James from C$74.00 to C$70.00 in a report issued on Thursday,BayStreet.CA reports. Raymond James’ price target suggests a potential upside of 15.57% from the company’s current price. Raymond James also issued estimates for Linamar’s Q3 2024 earnings at $2.15 EPS and Q4 2024 earnings at $2.09 EPS.

LNR has been the subject of a number of other reports. CIBC lowered their target price on Linamar from C$85.00 to C$84.00 in a research note on Thursday. Scotiabank cut shares of Linamar from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$86.00 to C$77.00 in a research note on Tuesday, October 29th. BMO Capital Markets dropped their price target on shares of Linamar from C$80.00 to C$75.00 in a research report on Wednesday. Finally, TD Securities lowered shares of Linamar from a “buy” rating to a “hold” rating and decreased their price target for the company from C$89.00 to C$68.00 in a research note on Wednesday.

Linamar Stock Up 1.2 %

Shares of TSE LNR traded up C$0.69 during mid-day trading on Thursday, reaching C$60.57. The company had a trading volume of 178,750 shares, compared to its average volume of 99,439. Linamar has a 12-month low of C$54.95 and a 12-month high of C$73.84. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The company has a market capitalization of C$3.73 billion, a price-to-earnings ratio of 6.21, a PEG ratio of 1.12 and a beta of 1.41. The stock has a fifty day moving average of C$61.72 and a two-hundred day moving average of C$65.00.

Linamar (TSE:LNR) last released its quarterly earnings results on Tuesday, November 12th. 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. 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%. As a group, equities research analysts expect that Linamar will post 11.4332724 EPS for the current year.

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.