CIBC Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target reduced by CIBC from C$85.00 to C$84.00 in a research note released on Thursday morning,BayStreet.CA reports.

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

Linamar Price Performance

Shares of LNR traded down C$0.12 during midday trading on Thursday, hitting C$60.86. The company’s stock had a trading volume of 133,216 shares, compared to its average volume of 100,092. Linamar has a one year low of C$54.95 and a one year high of C$73.84. The company’s fifty day simple moving average is C$61.68 and its two-hundred day simple moving average is C$64.97. 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 capitalization of C$3.75 billion, a price-to-earnings ratio of 6.22, a price-to-earnings-growth ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. The business had revenue of C$2.64 billion for the quarter, compared to analyst estimates 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 analysts expect that Linamar will post 11.4332724 earnings per share for the current fiscal 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.