BMO Capital Markets set a C$70.00 target price on Linamar Co. (TSE:LNR) in a research report sent to investors on Thursday morning. The firm currently has a market perform rating on the stock.
Several other research analysts also recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Linamar from C$71.00 to C$74.00 and gave the company a sector perform rating in a report on Thursday. TD Securities cut their price target on shares of Linamar from C$73.00 to C$72.00 and set a hold rating for the company in a report on Thursday. CIBC lifted their price objective on shares of Linamar from C$65.00 to C$69.00 in a report on Friday, May 12th. Finally, Scotiabank lifted their price objective on shares of Linamar from C$80.00 to C$85.00 and gave the stock an outperform rating in a report on Thursday, May 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Linamar has an average rating of Hold and a consensus target price of C$74.00.
Linamar (TSE LNR) traded up 2.31% during midday trading on Thursday, reaching $68.64. The company’s stock had a trading volume of 234,859 shares. The stock has a 50-day moving average price of $65.70 and a 200 day moving average price of $61.21. The company has a market cap of $4.48 billion and a PE ratio of 8.31. Linamar has a 12 month low of $47.00 and a 12 month high of $68.98.
Linamar (TSE:LNR) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.10. Linamar had a net margin of 8.76% and a return on equity of 21.77%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. Analysts expect that Linamar will post $8.22 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.12 per share. This is an increase from Linamar’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, August 23rd.
In other news, insider Kenneth Mcdougall sold 4,000 shares of Linamar stock in a transaction on Monday, June 19th. The shares were sold at an average price of C$62.10, for a total transaction of C$248,400.00. Also, Director William Harrison sold 5,000 shares of Linamar stock in a transaction on Monday, June 26th. The stock was sold at an average price of C$63.75, for a total transaction of C$318,750.00.
Linamar Company Profile
Linamar Corporation manufactures and sells precision metallic components, modules, and systems in Canada, United States, the Asia Pacific, Mexico, and Europe. It operates through two segments, Powertrain/Driveline and Industrial. The company offers hybrid power units, power transfer units, rear drive units/modules, and engineered gears; and shaft and shell assemblies, differential assemblies, transmission gears, clutch modules, center housings, transmission/driveline shafts, transfer case pump housings, and other transmission components.
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