Linamar (TSE:LNR) Given New C$90.00 Price Target at CIBC

Linamar (TSE:LNR) had its price objective cut by CIBC from C$91.50 to C$90.00 in a report released on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, Scotiabank boosted their price objective on Linamar from C$82.00 to C$85.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of C$82.20.

Linamar Trading Up 0.0 %

Shares of LNR stock opened at C$64.63 on Friday. Linamar has a 12-month low of C$56.78 and a 12-month high of C$78.89. The company has a current ratio of 1.59, a quick ratio of 0.75 and a debt-to-equity ratio of 33.30. The stock’s 50-day moving average price is C$68.31 and its 200-day moving average price is C$64.47. The stock has a market capitalization of C$3.98 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.45.

Linamar (TSE:LNR) last issued its earnings results on Wednesday, March 6th. The company reported C$1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.23. Linamar had a return on equity of 9.93% and a net margin of 5.17%. The firm had revenue of C$2.45 billion for the quarter, compared to analysts’ expectations of C$2.40 billion. Equities research analysts predict that Linamar will post 10.0864553 EPS for the current fiscal year.

Linamar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. This is a boost from Linamar’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. Linamar’s dividend payout ratio is currently 12.24%.

Insider Activity

In other Linamar news, Senior Officer Michael Willard Russell bought 586 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of C$69.93 per share, with a total value of C$40,978.98. Following the completion of the purchase, the insider now owns 586 shares in the company, valued at approximately C$40,978.98. Insiders own 35.92% 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 powered vehicle markets.