Linamar (TSE:LNR) Price Target Cut to C$70.00 by Analysts at Raymond James

Linamar (TSE:LNR) had its target price cut by investment analysts at Raymond James from C$74.00 to C$70.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Raymond James’ target price would suggest a potential upside of 15.57% from the company’s previous close. Raymond James also issued estimates for Linamar’s Q3 2024 earnings at $2.15 EPS and Q4 2024 earnings at $2.09 EPS.

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

Linamar Stock Performance

Shares of TSE:LNR traded up C$0.69 during trading on Thursday, hitting C$60.57. 178,750 shares of the company were exchanged, compared to its average volume of 99,439. The stock has a 50 day moving average of C$61.72 and a 200 day moving average of C$65.00. Linamar has a 52-week low of C$54.95 and a 52-week high of C$73.84. The company has a market cap of C$3.73 billion, a PE ratio of 6.21, a P/E/G ratio of 1.12 and a beta of 1.41. 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 (TSE:LNR) last released its earnings results on Tuesday, November 12th. The company reported C$2.35 EPS 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 analysts’ expectations of C$2.75 billion. As a group, equities research analysts predict that Linamar will post 11.4332724 EPS for the current 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.