Raymond James Reiterates Outperform Rating for Mercer International (NASDAQ:MERC)

Mercer International (NASDAQ:MERC) (TSE:MRI.U)‘s stock had its “outperform” rating restated by analysts at Raymond James in a report issued on Thursday, BayStreet.CA reports. They presently have a $19.00 target price on the basic materials company’s stock. Raymond James’ price target points to a potential upside of 48.67% from the company’s current price.

MERC has been the subject of several other reports. TD Securities lowered Mercer International from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $16.50 to $12.50 in a research note on Friday, October 18th. ValuEngine lowered Mercer International from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. BidaskClub lowered Mercer International from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 8th. Finally, Zacks Investment Research raised Mercer International from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.17.

Shares of MERC traded up $0.59 during trading hours on Thursday, hitting $12.78. 327,482 shares of the company were exchanged, compared to its average volume of 245,050. The company has a market capitalization of $804.61 million, a PE ratio of 6.52 and a beta of 1.56. The company has a debt-to-equity ratio of 1.72, a current ratio of 3.84 and a quick ratio of 2.52. The firm has a fifty day simple moving average of $12.24 and a 200-day simple moving average of $12.42. Mercer International has a one year low of $10.57 and a one year high of $17.74.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $383.54 million during the quarter, compared to analyst estimates of $398.57 million. Mercer International had a return on equity of 17.72% and a net margin of 6.34%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. Sell-side analysts expect that Mercer International will post 0.55 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC acquired a new stake in Mercer International during the third quarter valued at $46,000. PVG Asset Management Corp acquired a new stake in Mercer International during the second quarter valued at $178,000. Public Employees Retirement System of Ohio boosted its position in Mercer International by 6.8% during the third quarter. Public Employees Retirement System of Ohio now owns 12,877 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 819 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in Mercer International during the third quarter valued at $203,000. Finally, James Investment Research Inc. boosted its position in Mercer International by 3.2% during the third quarter. James Investment Research Inc. now owns 79,650 shares of the basic materials company’s stock valued at $999,000 after purchasing an additional 2,490 shares during the last quarter. 79.49% of the stock is owned by institutional investors and hedge funds.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood Kraft (NBSK) pulp in the United States, Europe, Asia, and internationally. The company operates in two segments, Pulp and Wood Products. It produces NBSK pulp primarily from wood chips and pulp logs; carbon neutral or green energy using carbon-neutral bio-fuels, such as black liquor and wood waste; and tall oil for use as a chemical additive and green energy source.

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