Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) posted its quarterly earnings data on Thursday. The basic materials company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.18), FiscalAI reports. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The business had revenue of $460.28 million during the quarter, compared to analysts’ expectations of $476.00 million.
Mercer International Stock Down 0.2%
Shares of NASDAQ:MERC traded down $0.00 during trading on Thursday, hitting $0.68. 264,903 shares of the company were exchanged, compared to its average volume of 585,331. The firm’s 50 day moving average price is $0.74 and its 200-day moving average price is $1.24. Mercer International has a 12-month low of $0.53 and a 12-month high of $3.38. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The stock has a market capitalization of $45.23 million, a P/E ratio of -0.09 and a beta of 0.53.
Insider Activity at Mercer International
In related news, major shareholder Peter R. Kellogg purchased 380,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $0.96 per share, for a total transaction of $364,800.00. Following the purchase, the insider directly owned 1,852,000 shares of the company’s stock, valued at $1,777,920. The trade was a 25.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 1,383,743 shares of company stock valued at $1,264,565. Company insiders own 1.20% of the company’s stock.
Hedge Funds Weigh In On Mercer International
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Mercer International from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Royal Bank Of Canada reduced their price objective on Mercer International from $1.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Friday, July 17th. TD reissued a “sell” rating on shares of Mercer International in a research note on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce cut their price target on Mercer International from $1.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Mercer International has a consensus rating of “Strong Sell” and an average target price of $1.20.
Read Our Latest Research Report on Mercer International
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.
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