Martinrea International (TSE:MRE) Price Target Cut to C$17.50 by Analysts at CIBC

Martinrea International (TSE:MRE) had its price objective lowered by CIBC from C$18.00 to C$17.50 in a research report sent to investors on Monday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Scotiabank reduced their price objective on Martinrea International from C$15.00 to C$14.50 in a report on Friday, May 3rd. Raymond James dropped their price target on Martinrea International from C$20.00 to C$18.00 and set an outperform rating on the stock in a research report on Friday, March 1st. Finally, TD Securities downgraded Martinrea International from an action list buy rating to a buy rating and decreased their price objective for the company from C$21.00 to C$19.00 in a report on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of C$18.25.

Martinrea International Trading Up 0.3 %

TSE MRE opened at C$11.89 on Monday. The stock has a market cap of C$912.44 million, a PE ratio of 6.29, a PEG ratio of 0.82 and a beta of 2.23. Martinrea International has a 12 month low of C$10.75 and a 12 month high of C$15.16. The company’s 50-day moving average price is C$11.62 and its 200-day moving average price is C$12.68. The company has a current ratio of 1.23, a quick ratio of 0.68 and a debt-to-equity ratio of 84.42.

Martinrea International (TSE:MRE) last issued its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.05). The company had revenue of C$1.30 billion during the quarter, compared to the consensus estimate of C$1.19 billion. Martinrea International had a return on equity of 10.13% and a net margin of 2.78%. Equities research analysts forecast that Martinrea International will post 2.2317757 earnings per share for the current year.

Martinrea International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 28th. This represents a $0.20 annualized dividend and a yield of 1.68%. Martinrea International’s dividend payout ratio (DPR) is presently 10.58%.

Insider Activity

In other news, Director Frank Patrick D’eramo bought 22,200 shares of Martinrea International stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of C$8.88 per share, for a total transaction of C$197,047.20. In other Martinrea International news, Senior Officer Alfredo Alonso acquired 7,490 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of C$8.70 per share, for a total transaction of C$65,163.00. Also, Director Frank Patrick D’eramo bought 22,200 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average price of C$8.88 per share, for a total transaction of C$197,047.20. In the last three months, insiders have purchased 39,553 shares of company stock worth $362,985. 15.38% of the stock is currently owned by company insiders.

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.