Raymond James Has Bullish Outlook for MERC FY2024 Earnings

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) – Analysts at Raymond James raised their FY2024 earnings estimates for shares of Mercer International in a research report issued to clients and investors on Monday, January 20th. Raymond James analyst D. Swetlishoff now forecasts that the basic materials company will post earnings of ($1.44) per share for the year, up from their previous estimate of ($1.62). The consensus estimate for Mercer International’s current full-year earnings is ($1.62) per share. Raymond James also issued estimates for Mercer International’s FY2025 earnings at ($0.29) EPS and FY2026 earnings at ($0.04) EPS.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The firm had revenue of $502.14 million for the quarter, compared to analyst estimates of $485.84 million. Mercer International had a negative net margin of 9.33% and a negative return on equity of 17.62%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.39) earnings per share.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com raised Mercer International from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $7.00 target price on shares of Mercer International in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.25.

Mercer International Stock Performance

NASDAQ:MERC opened at $6.51 on Wednesday. The stock has a market capitalization of $435.32 million, a P/E ratio of -2.30 and a beta of 1.29. The company has a current ratio of 3.79, a quick ratio of 2.39 and a debt-to-equity ratio of 3.09. Mercer International has a 1 year low of $5.33 and a 1 year high of $11.20. The firm has a 50 day moving average of $6.41 and a 200-day moving average of $6.65.

Institutional Investors Weigh In On Mercer International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Entropy Technologies LP acquired a new position in Mercer International in the third quarter valued at approximately $75,000. BNP Paribas Financial Markets lifted its stake in shares of Mercer International by 22.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 36,661 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 6,786 shares during the period. Quantbot Technologies LP boosted its position in shares of Mercer International by 505.8% in the 3rd quarter. Quantbot Technologies LP now owns 49,483 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 41,315 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Mercer International by 1.7% during the third quarter. Geode Capital Management LLC now owns 525,532 shares of the basic materials company’s stock worth $3,559,000 after purchasing an additional 8,957 shares during the period. 85.79% of the stock is owned by institutional investors and hedge funds.

Mercer International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Wednesday, December 18th. Mercer International’s dividend payout ratio is -10.60%.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.