Cormark Weighs in on Martinrea International Inc’s FY2019 Earnings (MRE)
Martinrea International Inc (TSE:MRE) – Cormark cut their FY2019 EPS estimates for shares of Martinrea International in a research report issued on Monday. Cormark analyst D. Tyerman now forecasts that the company will post earnings per share of $2.27 for the year, down from their previous estimate of $2.31. Cormark also issued estimates for Martinrea International’s FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.69 EPS.
A number of other analysts have also issued reports on MRE. Scotiabank raised their target price on Martinrea International from C$13.50 to C$15.00 and gave the company a “sector perform” rating in a report on Tuesday, May 2nd. CIBC decreased their price objective on Martinrea International from C$11.50 to C$9.00 in a report on Tuesday, May 2nd. BMO Capital Markets restated a “market perform” rating and set a C$11.00 target price on shares of Martinrea International in a research report on Tuesday, May 2nd. TD Securities restated a “buy” rating and set a C$12.00 target price on shares of Martinrea International in a research report on Friday, April 28th. Finally, Royal Bank Of Canada raised their target price on Martinrea International from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Martinrea International currently has a consensus rating of “Buy” and a consensus price target of C$12.60.
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Martinrea International (MRE) remained flat at $10.80 during trading on Wednesday. The company had a trading volume of 61,223 shares. The company has a market capitalization of $934.33 million and a price-to-earnings ratio of 9.08. The stock’s 50-day moving average is $10.74 and its 200-day moving average is $9.86. Martinrea International has a 1-year low of $6.70 and a 1-year high of $12.02.
About Martinrea International
Martinrea International Inc is a Canada-based company engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The Company’s segments are North America, Europe and Rest of the World.
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