Scotiabank Has Negative Estimate for Linamar FY2024 Earnings

Linamar Co. (TSE:LNR) – Analysts at Scotiabank reduced their FY2024 earnings estimates for Linamar in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will earn $9.51 per share for the year, down from their prior estimate of $9.80. Scotiabank currently has a “Sector Perform” rating and a $77.00 target price on the stock. The consensus estimate for Linamar’s current full-year earnings is $11.43 per share. Scotiabank also issued estimates for Linamar’s FY2025 earnings at $9.35 EPS.

Linamar (TSE:LNR) last announced its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The company had revenue of C$2.64 billion during the quarter, compared to analysts’ expectations of C$2.75 billion.

Several other research firms have also commented on LNR. Raymond James lowered their target price on Linamar from C$74.00 to C$70.00 in a report on Thursday, November 14th. BMO Capital Markets cut their price objective on Linamar from C$80.00 to C$75.00 in a report on Wednesday, November 13th. CIBC decreased their target price on shares of Linamar from C$85.00 to C$84.00 in a report on Thursday, November 14th. Finally, TD Securities cut shares of Linamar from a “buy” rating to a “hold” rating and lowered their price target for the company from C$89.00 to C$68.00 in a report on Wednesday, November 13th.

Linamar Trading Down 0.9 %

Shares of LNR opened at C$54.78 on Friday. The company has a debt-to-equity ratio of 46.32, a current ratio of 1.68 and a quick ratio of 0.75. Linamar has a 12 month low of C$54.35 and a 12 month high of C$73.84. The stock’s 50-day moving average is C$59.18 and its two-hundred day moving average is C$62.27. The stock has a market cap of C$3.37 billion, a PE ratio of 5.59, a P/E/G ratio of 1.12 and a beta of 1.41.

Insider Buying and Selling

In related news, Director Linda Hasenfratz purchased 50,000 shares of Linamar stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation acquired 25,101 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of C$60.95 per share, for a total transaction of C$1,529,963.68. Insiders bought 90,101 shares of company stock worth $5,475,561 in the last quarter. 33.49% of the stock is owned by corporate insiders.

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.