Raymond James Cuts Linamar (TSE:LNR) Price Target to C$70.00

Linamar (TSE:LNR) had its price target cut by Raymond James from C$74.00 to C$70.00 in a report issued on Thursday,BayStreet.CA reports. Raymond James also issued estimates for Linamar’s Q3 2024 earnings at $2.15 EPS, Q4 2024 earnings at $2.09 EPS, FY2024 earnings at $9.64 EPS and Q3 2025 earnings at $2.26 EPS.

Other equities analysts have also recently issued research reports about the company. Scotiabank cut Linamar from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$86.00 to C$77.00 in a research report on Tuesday, October 29th. BMO Capital Markets cut their price target on Linamar from C$80.00 to C$75.00 in a report on Wednesday. TD Securities cut Linamar from a “buy” rating to a “hold” rating and cut their price target for the company from C$89.00 to C$68.00 in a report on Wednesday. Finally, CIBC cut their price target on Linamar from C$85.00 to C$84.00 in a report on Thursday.

Linamar Stock Performance

Shares of LNR stock opened at C$61.23 on Thursday. Linamar has a 1-year low of C$54.95 and a 1-year high of C$73.84. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 46.32. The company has a market capitalization of C$3.77 billion, a price-to-earnings ratio of 6.25, a P/E/G ratio of 1.12 and a beta of 1.41. The stock’s fifty day simple moving average is C$61.67 and its 200-day simple moving average is C$64.93.

Linamar (TSE:LNR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The business had revenue of C$2.64 billion for the quarter, compared to the consensus estimate of C$2.75 billion. On average, sell-side analysts predict that Linamar will post 11.4332724 earnings per share for the current fiscal year.

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.