Scotiabank Cuts Martinrea International (TSE:MRE) Price Target to C$14.50

Martinrea International (TSE:MRE) had its target price decreased by Scotiabank from C$15.00 to C$14.50 in a report released on Friday morning, BayStreet.CA reports.

Several other equities research analysts have also commented on MRE. TD Securities lowered Martinrea International from an action list buy rating to a buy rating and lowered their price objective for the stock from C$21.00 to C$19.00 in a research report on Friday, March 1st. CIBC lowered their price target on shares of Martinrea International from C$20.00 to C$18.00 and set an outperform rating on the stock in a report on Friday, March 1st. Finally, Raymond James cut their price objective on shares of Martinrea International from C$20.00 to C$18.00 and set an outperform rating for the company in a report on Friday, March 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of C$18.33.

Martinrea International Stock Performance

MRE opened at C$11.94 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 83.83. Martinrea International has a 12-month low of C$10.75 and a 12-month high of C$15.16. The firm has a 50 day moving average of C$11.79 and a two-hundred day moving average of C$12.68. The firm has a market capitalization of C$932.99 million, a PE ratio of 6.19, a P/E/G ratio of 0.82 and a beta of 2.29.

Martinrea International (TSE:MRE) last issued its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.42 by C($0.05). The business had revenue of C$1.30 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Martinrea International had a return on equity of 10.81% and a net margin of 2.88%. On average, analysts anticipate that Martinrea International will post 2.2301741 EPS for the current year.

Martinrea International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, June 28th. Martinrea International’s payout ratio is 10.36%.

Insiders Place Their Bets

In other news, Senior Officer Alfredo Alonso purchased 7,490 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average price of C$8.70 per share, for a total transaction of C$65,163.00. In other Martinrea International news, Senior Officer Alfredo Alonso acquired 7,490 shares of the stock in a transaction on Monday, March 18th. The shares were bought at an average cost of C$8.70 per share, with a total value of C$65,163.00. Also, Senior Officer Alfred Di Tosto purchased 3,620 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of C$11.77 per share, with a total value of C$42,607.40. Insiders have acquired a total of 38,353 shares of company stock worth $348,645 in the last ninety days. 15.10% of the stock is owned by corporate insiders.

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.