Raymond James Comments on Linamar's Q3 Earnings (TSE:LNR)

Linamar Co. (TSE:LNR - Free Report) - Raymond James dropped their Q3 2024 earnings per share (EPS) estimates for Linamar in a note issued to investors on Thursday, November 7th. Raymond James analyst M. Glen now forecasts that the company will post earnings per share of $2.15 for the quarter, down from their previous forecast of $2.39. The consensus estimate for Linamar's current full-year earnings is $11.43 per share. Raymond James also issued estimates for Linamar's Q4 2024 earnings at $2.09 EPS.

LNR has been the topic of several other research reports. BMO Capital Markets dropped their price objective on shares of Linamar from C$90.00 to C$80.00 in a report on Friday, August 9th. Scotiabank lowered Linamar from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. CIBC decreased their price target on shares of Linamar from C$88.00 to C$85.00 in a research note on Friday. Finally, TD Securities dropped their price objective on shares of Linamar from C$92.00 to C$89.00 and set a "buy" rating for the company in a research note on Monday, September 30th.

Linamar Stock Performance

Shares of Linamar stock traded up C$0.59 during midday trading on Monday, hitting C$59.91. The company had a trading volume of 102,838 shares, compared to its average volume of 97,838. The stock has a market cap of C$3.69 billion, a PE ratio of 6.11, a P/E/G ratio of 1.12 and a beta of 1.41. Linamar has a 1-year low of C$54.95 and a 1-year high of C$73.84. The business's 50 day simple moving average is C$61.83 and its two-hundred day simple moving average is C$65.09. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75.

Linamar (TSE:LNR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported C$3.06 earnings per share for the quarter, topping analysts' consensus estimates of C$2.70 by C$0.36. The firm had revenue of C$2.85 billion during the quarter, compared to analyst estimates of C$2.92 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%.

Linamar Company Profile

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.