Mizuho Issues Pessimistic Forecast for Lineage (NASDAQ:LINE) Stock Price

Lineage (NASDAQ:LINE - Free Report) had its price objective lowered by Mizuho from $86.00 to $67.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Lineage from $104.00 to $89.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Royal Bank of Canada cut their price target on Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Scotiabank decreased their price objective on Lineage from $94.00 to $76.00 and set a "sector outperform" rating on the stock in a report on Tuesday, December 10th. Capital One Financial initiated coverage on Lineage in a research note on Monday, September 16th. They issued an "overweight" rating and a $91.00 target price for the company. Finally, Robert W. Baird lowered their price target on Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.31.

Lineage Trading Down 0.9 %

Shares of Lineage stock traded down $0.53 during trading on Wednesday, hitting $56.47. 875,962 shares of the company were exchanged, compared to its average volume of 697,767. Lineage has a fifty-two week low of $56.20 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The stock has a 50 day moving average of $62.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Sell-side analysts anticipate that Lineage will post 3 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, December 31st.

Institutional Investors Weigh In On Lineage

Several institutional investors and hedge funds have recently modified their holdings of LINE. GAMMA Investing LLC lifted its position in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 448 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Lineage during the third quarter worth $12,542,000. Principal Financial Group Inc. purchased a new position in shares of Lineage in the third quarter valued at $173,115,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Lineage in the third quarter valued at $7,804,000. Finally, Geode Capital Management LLC acquired a new stake in Lineage during the 3rd quarter valued at $91,161,000.

Lineage Company Profile

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.