Mercer International (NASDAQ:MERC) Releases Earnings Results, Misses Expectations By $0.04 EPS

Mercer International (NASDAQ:MERC) (TSE:MRI.U) released its quarterly earnings results on Thursday. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04), FiscalAI reports. Mercer International had a negative net margin of 26.65% and a negative return on equity of 81.16%. The firm had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million.

Mercer International Stock Performance

Shares of NASDAQ MERC remained flat at $1.11 during midday trading on Thursday. 529,202 shares of the stock traded hands, compared to its average volume of 541,959. The company has a 50-day moving average price of $1.36 and a two-hundred day moving average price of $1.80. Mercer International has a 12-month low of $1.00 and a 12-month high of $4.47. The company has a debt-to-equity ratio of 23.58, a current ratio of 3.05 and a quick ratio of 1.79. The stock has a market capitalization of $74.35 million, a PE ratio of -0.15 and a beta of 0.53.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. Royal Bank Of Canada decreased their target price on shares of Mercer International from $2.00 to $1.25 and set a “sector perform” rating for the company in a report on Thursday, April 16th. TD Securities cut shares of Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, TD Cowen lowered shares of Mercer International from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average price target of $2.25.

Institutional Trading of Mercer International

Hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL purchased a new stake in Mercer International in the second quarter worth about $244,000. Jump Financial LLC lifted its position in shares of Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after buying an additional 214,008 shares in the last quarter. Gabelli Funds LLC purchased a new position in shares of Mercer International during the 2nd quarter valued at about $1,804,000. Geode Capital Management LLC grew its stake in shares of Mercer International by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares during the period. Finally, Millennium Management LLC increased its holdings in Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after acquiring an additional 137,906 shares in the last quarter. Institutional investors own 85.79% of the company’s stock.

About Mercer International

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.