Mercer International (NASDAQ:MERC) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Mercer International (NASDAQ:MERC - Free Report) TSE: MRI.U in a research report released on Monday, Benzinga reports. The brokerage currently has a $7.00 target price on the basic materials company's stock.

MERC has been the topic of several other reports. StockNews.com upgraded Mercer International from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. CIBC reduced their price target on Mercer International from $10.00 to $8.50 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.13.

Mercer International Price Performance

MERC stock traded down $0.13 on Monday, reaching $6.31. 417,168 shares of the company's stock were exchanged, compared to its average volume of 358,503. The stock has a fifty day moving average of $6.48 and a 200-day moving average of $7.88. Mercer International has a twelve month low of $5.33 and a twelve month high of $11.20. The firm has a market cap of $421.95 million, a PE ratio of -2.20 and a beta of 1.35. The company has a quick ratio of 2.17, a current ratio of 3.46 and a debt-to-equity ratio of 3.22.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.03. Mercer International had a negative return on equity of 17.24% and a negative net margin of 9.33%. The firm had revenue of $502.14 million for the quarter, compared to analyst estimates of $485.84 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Mercer International's quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Mercer International will post -1.78 EPS for the current fiscal year.

Mercer International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Wednesday, December 18th. Mercer International's dividend payout ratio (DPR) is presently -10.60%.

Insider Activity

In other news, VP Wolfgang Beck purchased 18,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $6.02 per share, for a total transaction of $111,370.00. Following the transaction, the vice president now owns 26,263 shares in the company, valued at $158,103.26. This trade represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Wolfgang Beck acquired 18,500 shares of Mercer International stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $6.02 per share, with a total value of $111,370.00. Following the purchase, the vice president now directly owns 26,263 shares in the company, valued at $158,103.26. The trade was a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Estrada Juan Carlos Bueno acquired 7,800 shares of Mercer International stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $6.60 per share, with a total value of $51,480.00. Following the completion of the purchase, the chief executive officer now owns 67,615 shares in the company, valued at approximately $446,259. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 41,300 shares of company stock worth $252,650. 4.20% of the stock is owned by company insiders.

Institutional Trading of Mercer International

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Mercer International during the first quarter valued at $193,000. Everence Capital Management Inc. acquired a new stake in Mercer International during the first quarter valued at $261,000. Finally, SG Americas Securities LLC boosted its position in Mercer International by 26.5% during the first quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company's stock valued at $509,000 after purchasing an additional 10,713 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company's stock.

About Mercer International

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.