CIBC Trims Martinrea International (TSE:MRE) Target Price to C$17.50

Martinrea International (TSE:MRE) had its target price lowered by CIBC from C$18.00 to C$17.50 in a report issued on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. TD Securities cut shares of Martinrea International from an action list buy rating to a buy rating and reduced their target price for the stock from C$21.00 to C$19.00 in a report on Friday, March 1st. Raymond James decreased their target price on Martinrea International from C$20.00 to C$18.00 and set an outperform rating on the stock in a report on Friday, March 1st. Finally, Scotiabank reduced their target price on Martinrea International from C$15.00 to C$14.50 in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of C$18.25.

Martinrea International Trading Up 0.3 %

Shares of Martinrea International stock opened at C$11.89 on Monday. The business has a fifty day simple moving average of C$11.62 and a 200-day simple moving average of C$12.68. Martinrea International has a fifty-two week low of C$10.75 and a fifty-two week high of C$15.16. The firm has a market cap of C$912.44 million, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 0.82 and a beta of 2.23. The company has a quick ratio of 0.68, a current ratio of 1.23 and a debt-to-equity ratio of 84.42.

Martinrea International (TSE:MRE) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). Martinrea International had a net margin of 2.78% and a return on equity of 10.13%. The business had revenue of C$1.30 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, equities analysts forecast that Martinrea International will post 2.2317757 EPS for the current fiscal year.

Martinrea International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, June 28th. Martinrea International’s dividend payout ratio (DPR) is currently 10.58%.

Insider Activity

In other Martinrea International news, Senior Officer Alfredo Alonso bought 7,490 shares of the stock in a transaction on Monday, March 18th. The shares were bought at an average price of C$8.70 per share, with a total value of C$65,163.00. In related news, Senior Officer Alfredo Alonso bought 7,490 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was bought at an average price of C$8.70 per share, with a total value of C$65,163.00. Also, Director Frank Patrick D’eramo purchased 22,200 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of C$8.88 per share, for a total transaction of C$197,047.20. Insiders acquired 39,553 shares of company stock worth $362,985 over the last quarter. Corporate insiders own 15.38% of the company’s stock.

About Martinrea International

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.