Linamar (TSE:LNR) Hits New 12-Month Low - Here's Why

Linamar Co. (TSE:LNR - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as C$56.70 and last traded at C$56.72, with a volume of 107160 shares. The stock had previously closed at C$56.97.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LNR shares. TD Securities dropped their target price on Linamar from C$92.00 to C$89.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. CIBC cut their target price on shares of Linamar from C$92.00 to C$88.00 in a research report on Friday, August 9th. Scotiabank downgraded shares of Linamar from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from C$86.00 to C$77.00 in a research report on Tuesday. Finally, BMO Capital Markets cut their price objective on shares of Linamar from C$90.00 to C$80.00 in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$81.60.

Linamar Stock Performance

The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The company has a market cap of C$3.49 billion, a P/E ratio of 5.78, a PEG ratio of 1.12 and a beta of 1.41. The business's 50 day simple moving average is C$62.44 and its 200 day simple moving average is C$65.38.

Linamar (TSE:LNR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$3.06 EPS for the quarter, beating the consensus estimate of C$2.70 by C$0.36. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The firm had revenue of C$2.85 billion for the quarter, compared to the consensus estimate of C$2.92 billion. Sell-side analysts predict that Linamar Co. will post 11.4332724 earnings per share for the current fiscal year.

Linamar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 23rd were given a $0.25 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Linamar's payout ratio is 10.20%.

About Linamar

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.