Scotiabank Weighs in on Linamar’s FY2024 Earnings (TSE:LNR)

Linamar Co. (TSE:LNR) – Equities researchers at Scotiabank reduced their FY2024 earnings estimates for shares of Linamar in a research report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now forecasts that the company will earn $9.51 per share for the year, down from their prior estimate of $9.80. Scotiabank currently has a “Sector Perform” rating and a $77.00 target price on the stock. The consensus estimate for Linamar’s current full-year earnings is $11.43 per share. Scotiabank also issued estimates for Linamar’s FY2025 earnings at $9.35 EPS.

Linamar (TSE:LNR) last released its earnings results on Tuesday, November 12th. The company reported C$2.35 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of C$2.64 billion during the quarter, compared to analysts’ expectations of C$2.75 billion.

LNR has been the subject of a number of other research reports. CIBC dropped their target price on shares of Linamar from C$85.00 to C$84.00 in a report on Thursday, November 14th. BMO Capital Markets dropped their price objective on shares of Linamar from C$80.00 to C$75.00 in a research note on Wednesday, November 13th. Raymond James decreased their target price on shares of Linamar from C$74.00 to C$70.00 in a research note on Thursday, November 14th. Finally, TD Securities cut Linamar from a “buy” rating to a “hold” rating and dropped their price target for the company from C$89.00 to C$68.00 in a research note on Wednesday, November 13th.

Linamar Price Performance

Shares of LNR stock opened at C$54.78 on Friday. The business has a fifty day simple moving average of C$59.22 and a 200 day simple moving average of C$62.35. The company has a market cap of C$3.37 billion, a P/E ratio of 5.59, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 46.32. Linamar has a twelve month low of C$54.35 and a twelve month high of C$73.84.

Insiders Place Their Bets

In related news, Director Linda Hasenfratz acquired 50,000 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of C$60.01 per share, for a total transaction of C$3,000,500.00. Also, insider Linamar Corporation bought 15,000 shares of Linamar stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average price of C$63.01 per share, for a total transaction of C$945,097.50. Insiders have acquired 90,101 shares of company stock valued at $5,475,561 in the last ninety days. 33.49% of the stock is currently owned by insiders.

About Linamar

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.