Scotiabank Has Bearish Estimate for Linamar FY2024 Earnings

Linamar Co. (TSE:LNR - Free Report) - Research analysts at Scotiabank reduced their FY2024 earnings per share (EPS) estimates for shares of Linamar in a report released on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will post earnings of $9.51 per share for the year, down from their previous estimate of $9.80. Scotiabank has a "Sector Perform" rating and a $77.00 price objective on the stock. The consensus estimate for Linamar's current full-year earnings is $11.43 per share. Scotiabank also issued estimates for Linamar's FY2025 earnings at $9.35 EPS.

LNR has been the subject of a number of other reports. BMO Capital Markets dropped their target price on shares of Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. Raymond James reduced their price objective on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. TD Securities lowered Linamar from a "buy" rating to a "hold" rating and lowered their target price for the company from C$89.00 to C$68.00 in a report on Wednesday, November 13th. Finally, CIBC cut their price target on Linamar from C$85.00 to C$84.00 in a research note on Thursday, November 14th.

Linamar Price Performance

Shares of LNR traded down C$0.52 during trading hours on Friday, reaching C$54.78. The company had a trading volume of 85,696 shares, compared to its average volume of 99,905. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. Linamar has a 12-month low of C$54.35 and a 12-month high of C$73.84. The firm has a 50 day simple moving average of C$59.22 and a 200-day simple moving average of C$62.35. The company has a market capitalization of C$3.37 billion, a price-to-earnings ratio of 5.59, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.15 by C$0.20. The firm had revenue of C$2.64 billion during the quarter, compared to analysts' expectations of C$2.75 billion. Linamar had a return on equity of 11.31% and a net margin of 5.77%.

Insider Buying and Selling

In other news, insider Linamar Corporation acquired 15,000 shares of the business's stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of C$63.01 per share, with a total value of C$945,097.50. Also, Director Linda Hasenfratz acquired 50,000 shares of Linamar stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Insiders purchased 90,101 shares of company stock worth $5,475,561 in the last ninety days. Insiders own 33.49% of the company's stock.

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.