Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U had its target price cut by equities researchers at CIBC from $7.00 to $6.00 in a report released on Tuesday, Marketbeat reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. CIBC's target price suggests a potential upside of 34.38% from the stock's previous close.
Separately, Raymond James cut their price target on shares of Mercer International from $7.50 to $7.00 in a report on Thursday, January 30th.
Read Our Latest Research Report on MERC
Mercer International Trading Down 1.2 %
NASDAQ:MERC traded down $0.06 during trading hours on Tuesday, hitting $4.47. The company had a trading volume of 138,646 shares, compared to its average volume of 385,722. Mercer International has a 1 year low of $4.42 and a 1 year high of $11.20. The company has a market cap of $298.58 million, a P/E ratio of -3.52 and a beta of 1.26. The company has a 50-day moving average of $6.19 and a 200 day moving average of $6.40. The company has a current ratio of 3.79, a quick ratio of 2.39 and a debt-to-equity ratio of 3.09.
Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.23. Mercer International had a negative net margin of 4.17% and a negative return on equity of 5.18%. The firm had revenue of $488.41 million during the quarter, compared to analyst estimates of $497.00 million. Sell-side analysts expect that Mercer International will post -0.29 earnings per share for the current year.
Hedge Funds Weigh In On Mercer International
Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Mercer International by 1.7% in the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company's stock valued at $3,559,000 after purchasing an additional 8,957 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Mercer International during the 4th quarter valued at about $58,000. Finally, Entropy Technologies LP boosted its holdings in Mercer International by 56.0% during the 4th quarter. Entropy Technologies LP now owns 17,270 shares of the basic materials company's stock valued at $112,000 after acquiring an additional 6,200 shares during the period. 85.79% of the stock is currently owned by institutional investors and hedge funds.
Mercer International Company Profile
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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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