Linamar (TSE:LNR) Stock Price Passes Above 200 Day Moving Average of $67.06

Linamar Co. (TSE:LNR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$67.06 and traded as high as C$67.07. Linamar shares last traded at C$66.49, with a volume of 77,621 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Linamar from C$85.00 to C$90.00 in a research report on Thursday, May 9th. Raymond James upped their price target on Linamar from C$70.00 to C$74.00 in a research report on Thursday, May 9th. CIBC lifted their price objective on Linamar from C$90.00 to C$92.00 in a research report on Thursday, May 9th. BMO Capital Markets upped their target price on Linamar from C$80.00 to C$90.00 in a report on Thursday, May 9th. Finally, TD Securities raised their target price on Linamar from C$86.00 to C$97.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$88.60.

Linamar Stock Performance

The company has a debt-to-equity ratio of 47.60, a quick ratio of 0.75 and a current ratio of 1.66. The stock has a market capitalization of C$4.09 billion, a PE ratio of 7.25, a P/E/G ratio of 1.12 and a beta of 1.48. The firm’s 50 day moving average is C$68.17 and its two-hundred day moving average is C$67.06.

Linamar (TSE:LNR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C$2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.12 by C$0.47. The business had revenue of C$2.72 billion for the quarter, compared to analysts’ expectations of C$2.70 billion. Linamar had a return on equity of 10.76% and a net margin of 5.55%. As a group, research analysts predict that Linamar Co. will post 10.703876 earnings per share for the current year.

Linamar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Monday, May 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.50%. Linamar’s payout ratio is currently 10.91%.

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.