Linamar (TSE:LNR) Issues Earnings Results

Linamar (TSE:LNR) announced its quarterly earnings data on Wednesday. The company reported C$2.59 EPS for the quarter, FiscalAI reports. Linamar had a return on equity of 10.96% and a net margin of 6.15%. The business had revenue of C$3.08 billion during the quarter.

Linamar Stock Up 2.9%

TSE:LNR traded up C$2.65 during trading hours on Wednesday, reaching C$92.78. 144,798 shares of the company traded hands, compared to its average volume of 138,781. The business’s 50-day moving average price is C$95.15 and its two-hundred day moving average price is C$94.97. The stock has a market capitalization of C$5.47 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.12 and a beta of 1.62. Linamar has a 1 year low of C$73.27 and a 1 year high of C$110.58. The company has a current ratio of 1.88, a quick ratio of 0.75 and a debt-to-equity ratio of 32.89.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LNR shares. TD reduced their target price on shares of Linamar from C$123.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Scotiabank lifted their price target on shares of Linamar from C$102.00 to C$114.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Linamar from C$115.00 to C$120.00 in a research note on Thursday, August 13th. Finally, BMO Capital Markets lowered shares of Linamar from an “outperform” rating to a “hold” rating and set a C$105.00 price objective on the stock. in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Linamar presently has an average rating of “Hold” and an average target price of C$110.29.

Insider Buying and Selling

In other news, Director Mark Stoddart sold 18,932 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$105.58, for a total value of C$1,998,840.56. Following the sale, the director directly owned 455,914 shares of the company’s stock, valued at approximately C$48,135,400.12. This represents a 3.99% decrease in their ownership of the stock. Company insiders own 33.49% of the company’s stock.

About Linamar

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.