Mercer International (NASDAQ:MERC) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Mercer International (NASDAQ:MERC) (TSE:MRI.U) issued its quarterly earnings results on Thursday. The basic materials company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.18), FiscalAI reports. The company had revenue of $460.28 million for the quarter, compared to the consensus estimate of $476.00 million. Mercer International had a negative net margin of 27.86% and a negative return on equity of 203.05%.

Mercer International Price Performance

MERC opened at $0.59 on Friday. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. The stock has a market capitalization of $39.77 million, a P/E ratio of -0.08 and a beta of 0.53. The company’s 50-day simple moving average is $0.73 and its two-hundred day simple moving average is $1.22. Mercer International has a 52-week low of $0.53 and a 52-week high of $3.38.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MERC. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. TD reiterated a “sell” rating on shares of Mercer International in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Mercer International from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. Canadian Imperial Bank of Commerce cut their price target on shares of Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reduced their price target on shares of Mercer International from $1.00 to $0.75 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Mercer International currently has an average rating of “Strong Sell” and an average price target of $1.20.

Insider Activity at Mercer International

In related news, major shareholder Peter R. Kellogg purchased 51,441 shares of Mercer International stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of $0.92 per share, for a total transaction of $47,325.72. Following the completion of the purchase, the insider directly owned 1,385,672 shares of the company’s stock, valued at $1,274,818.24. The trade was a 3.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased 1,383,743 shares of company stock valued at $1,264,565 in the last three months. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Mercer International

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Mercer International in the second quarter worth $1,804,000. Jump Financial LLC grew its holdings in shares of Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after acquiring an additional 214,008 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in Mercer International during the second quarter valued at $244,000. Institutional investors own 85.79% of the company’s stock.

About Mercer International

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.