Cormark Forecasts Lower Earnings for Martinrea International

Martinrea International Inc. (TSE:MRE) – Equities research analysts at Cormark cut their FY2024 earnings per share estimates for shares of Martinrea International in a report released on Wednesday, November 13th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $1.73 for the year, down from their prior estimate of $2.12. The consensus estimate for Martinrea International’s current full-year earnings is $2.50 per share.

A number of other equities analysts have also recently commented on MRE. BMO Capital Markets decreased their target price on Martinrea International from C$15.00 to C$13.00 in a report on Thursday. CIBC decreased their price target on Martinrea International from C$17.00 to C$14.50 in a report on Thursday. Finally, TD Securities decreased their price target on Martinrea International from C$18.00 to C$13.00 in a report on Wednesday. One research 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.com, Martinrea International has an average rating of “Moderate Buy” and a consensus price target of C$15.75.

Martinrea International Price Performance

Shares of Martinrea International stock opened at C$9.68 on Friday. Martinrea International has a one year low of C$9.52 and a one year high of C$14.59. The stock’s fifty day moving average is C$11.13 and its 200 day moving average is C$11.39. The stock has a market cap of C$724.16 million, a P/E ratio of 5.35, a P/E/G ratio of 0.82 and a beta of 2.08. The company has a debt-to-equity ratio of 83.13, a quick ratio of 0.68 and a current ratio of 1.25.

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.