Linamar (TSE:LNR) Stock Price Passes Above 200 Day Moving Average of $67.06

Shares of Linamar Co. (TSE:LNR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$67.06 and traded as high as C$67.07. Linamar shares last traded at C$66.49, with a volume of 77,621 shares.

Analyst Ratings Changes

LNR has been the subject of a number of recent analyst reports. CIBC boosted their target price on shares of Linamar from C$90.00 to C$92.00 in a report on Thursday, May 9th. Raymond James boosted their price objective on shares of Linamar from C$70.00 to C$74.00 in a research note on Thursday, May 9th. Scotiabank upped their price objective on Linamar from C$85.00 to C$90.00 in a report on Thursday, May 9th. BMO Capital Markets lifted their target price on Linamar from C$80.00 to C$90.00 in a report on Thursday, May 9th. Finally, TD Securities boosted their price target on Linamar from C$86.00 to C$97.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$88.60.

Linamar Stock Performance

The company has a current ratio of 1.66, a quick ratio of 0.75 and a debt-to-equity ratio of 47.60. The firm has a market cap of C$4.09 billion, a PE ratio of 7.25, a P/E/G ratio of 1.12 and a beta of 1.48. The stock’s 50 day moving average price is C$68.17 and its 200 day moving average price is C$67.06.

Linamar (TSE:LNR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.12 by C$0.47. The firm had revenue of C$2.72 billion during the quarter, compared to the consensus estimate of C$2.70 billion. Linamar had a return on equity of 10.76% and a net margin of 5.55%. As a group, equities analysts forecast that Linamar Co. will post 10.703876 earnings per share for the current fiscal year.

Linamar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, May 24th. Linamar’s dividend payout ratio (DPR) is presently 10.91%.

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.