Cormark Forecasts Lower Earnings for Martinrea International

Martinrea International Inc. (TSE:MRE) – Stock analysts at Cormark reduced their FY2024 earnings per share estimates for Martinrea International in a research report issued on Wednesday, November 13th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $1.73 for the year, down from their previous estimate of $2.12. The consensus estimate for Martinrea International’s current full-year earnings is $2.50 per share.

MRE has been the subject of several other research reports. BMO Capital Markets dropped their price target on Martinrea International from C$15.00 to C$13.00 in a research report on Thursday. CIBC decreased their price objective on shares of Martinrea International from C$17.00 to C$14.50 in a research note on Thursday. Finally, TD Securities decreased their price objective on shares of Martinrea International from C$18.00 to C$13.00 in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Martinrea International has a consensus rating of “Moderate Buy” and an average price target of C$15.75.

Martinrea International Trading Down 1.3 %

MRE opened at C$9.68 on Friday. The firm has a market cap of C$724.16 million, a P/E ratio of 5.35, a P/E/G ratio of 0.82 and a beta of 2.08. Martinrea International has a 12 month low of C$9.52 and a 12 month high of C$14.59. 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 of C$11.13 and a 200 day moving average of C$11.39.

About Martinrea International

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.