Mercer International Inc. (NASDAQ:MERC) Given Average Rating of "Reduce" by Brokerages
Mercer International Inc. (NASDAQ:MERC) has been given a consensus "Reduce" rating by five analysts, with one sell and four hold ratings. The average price target is $3.50. Recent analyst actions include Royal Bank of Canada lowering its target to $2.00 and TD Securities to $3.00. Hedge funds have adjusted their positions, with significant increases in shares held. The stock opened at $1.59, with a market cap of $106.50 million and a negative EPS of ($0.97) for the last quarter.
Shares of Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U have been assigned a consensus recommendation of "Reduce" from the five analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.50.
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A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their target price on Mercer International from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research report on Monday, November 10th. Weiss Ratings reissued a "sell (e+)" rating on shares of Mercer International in a research report on Monday. Finally, TD Securities decreased their target price on shares of Mercer International from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th.
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Hedge Funds Weigh In On Mercer International
A number of hedge funds have recently made changes to their positions in MERC. Quantbot Technologies LP raised its position in Mercer International by 943.3% in the first quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 18,508 shares during the period. Jump Financial LLC grew its stake in shares of Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company's stock valued at $969,000 after buying an additional 214,008 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at $244,000. Gabelli Funds LLC purchased a new stake in shares of Mercer International in the 2nd quarter valued at $1,804,000. Finally, Iat Reinsurance Co. LTD. lifted its stake in Mercer International by 1.3% during the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company's stock worth $48,096,000 after acquiring an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company's stock.
Mercer International Stock Performance
Mercer International stock opened at $1.59 on Friday. The firm has a 50 day simple moving average of $2.40 and a 200-day simple moving average of $3.12. The stock has a market cap of $106.50 million, a price-to-earnings ratio of -0.98 and a beta of 0.94. The company has a debt-to-equity ratio of 3.42, a current ratio of 3.10 and a quick ratio of 1.73. Mercer International has a 1-year low of $1.48 and a 1-year high of $8.28.
Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.08). The firm had revenue of $458.07 million for the quarter, compared to analysts' expectations of $482.70 million. Mercer International had a negative net margin of 5.60% and a negative return on equity of 23.88%. On average, analysts expect that Mercer International will post -0.29 EPS for the current year.
Mercer International Company Profile
(Get Free Report)Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.
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