Raymond James Has Bearish Outlook for TSE:MRE Q3 Earnings

Martinrea International Inc. (TSE:MRE) – Analysts at Raymond James dropped their Q3 2024 earnings per share (EPS) estimates for Martinrea International in a research note issued to investors on Thursday, November 7th. Raymond James analyst M. Glen now expects that the company will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.56. The consensus estimate for Martinrea International’s current full-year earnings is $2.50 per share. Raymond James also issued estimates for Martinrea International’s Q4 2024 earnings at $0.45 EPS and FY2024 earnings at $2.00 EPS.

A number of other brokerages also recently issued reports on MRE. TD Securities dropped their price target on Martinrea International from C$19.00 to C$18.00 and set a “buy” rating for the company in a research report on Monday, September 30th. CIBC decreased their price objective on Martinrea International from C$17.50 to C$17.00 in a report on Friday. Finally, BMO Capital Markets decreased their price objective on Martinrea International from C$17.00 to C$15.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$17.33.

Martinrea International Stock Performance

Shares of MRE opened at C$11.05 on Monday. The company has a market cap of C$826.65 million, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.82 and a beta of 2.08. The company has a current ratio of 1.25, a quick ratio of 0.68 and a debt-to-equity ratio of 83.13. The stock has a 50-day moving average price of C$11.25 and a 200-day moving average price of C$11.42. Martinrea International has a 12-month low of C$10.05 and a 12-month high of C$14.59.

Martinrea International Company Profile

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.