CIBC Issues Pessimistic Forecast for Linamar (TSE:LNR) Stock Price

Linamar (TSE:LNR) had its price target trimmed by CIBC from C$85.00 to C$84.00 in a research note released on Thursday,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the company. Scotiabank downgraded Linamar from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$86.00 to C$77.00 in a report on Tuesday, October 29th. BMO Capital Markets lowered their target price on Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Finally, TD Securities lowered shares of 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 research note on Wednesday, November 13th.

Linamar Stock Up 0.4 %

Shares of TSE LNR opened at C$61.23 on Thursday. Linamar has a 52-week low of C$54.95 and a 52-week high of C$73.84. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a market cap of C$3.77 billion, a P/E ratio of 6.25, a P/E/G ratio of 1.12 and a beta of 1.41. The firm has a 50 day moving average price of C$61.67 and a 200 day moving average price of C$64.93.

Linamar (TSE:LNR) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.20. Linamar had a net margin of 5.77% and a return on equity of 11.31%. The company had revenue of C$2.64 billion for the quarter, compared to analysts’ expectations of C$2.75 billion. Analysts expect 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.