Scotiabank Lowers Linamar (TSE:LNR) to Sector Perform

Scotiabank lowered shares of Linamar (TSE:LNR) from an outperform rating to a sector perform rating in a research report released on Tuesday, BayStreet.CA reports. The brokerage currently has C$77.00 price objective on the stock, down from their previous price objective of C$86.00.

A number of other research firms have also commented on LNR. CIBC dropped their price objective on Linamar from C$92.00 to C$88.00 in a research note on Friday, August 9th. BMO Capital Markets dropped their price target on Linamar from C$90.00 to C$80.00 in a research report on Friday, August 9th. Finally, TD Securities reduced their price objective on Linamar from C$92.00 to C$89.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$81.60.

Linamar Stock Down 3.8 %

Shares of Linamar stock opened at C$59.17 on Tuesday. Linamar has a 12-month low of C$56.78 and a 12-month high of C$73.84. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. The stock has a 50 day moving average price of C$62.74 and a two-hundred day moving average price of C$65.60. The stock has a market capitalization of C$3.64 billion, a P/E ratio of 6.04, a PEG ratio of 1.12 and a beta of 1.41.

Linamar (TSE:LNR) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.70 by C$0.36. The business had revenue of C$2.85 billion during the quarter, compared to the consensus estimate of C$2.92 billion. Linamar had a net margin of 5.77% and a return on equity of 11.31%. Equities analysts expect that Linamar will post 11.4332724 earnings per share for the current year.

Linamar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.69%. Linamar’s dividend payout ratio is currently 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.