Mercer International (NASDAQ:MERC) Price Target Raised to $20.00

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) had its target price hoisted by Royal Bank of Canada from $17.00 to $20.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other research analysts have also issued reports on the stock. TD Securities upped their target price on shares of Mercer International from $16.50 to $18.00 and gave the stock a hold rating in a research report on Tuesday. Credit Suisse Group upped their price target on shares of Mercer International from $19.00 to $21.00 and gave the company an outperform rating in a research report on Tuesday, July 26th. Finally, Raymond James upped their price target on shares of Mercer International from $20.00 to $24.00 and gave the company an outperform rating in a research report on Monday, July 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $20.75.

Mercer International Trading Up 0.5 %

Mercer International stock opened at $14.97 on Tuesday. Mercer International has a fifty-two week low of $9.51 and a fifty-two week high of $17.17. The firm’s fifty day moving average price is $14.45 and its 200-day moving average price is $14.12. The stock has a market cap of $990.52 million, a P/E ratio of 3.28 and a beta of 1.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.99 and a current ratio of 4.27.

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) last announced its earnings results on Thursday, July 28th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Mercer International had a net margin of 14.11% and a return on equity of 42.77%. The company had revenue of $572.33 million during the quarter, compared to analyst estimates of $484.73 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. Equities research analysts forecast that Mercer International will post 4.06 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 28th will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.00%. Mercer International’s dividend payout ratio is currently 6.56%.

Hedge Funds Weigh In On Mercer International

A number of institutional investors have recently bought and sold shares of MERC. Merrion Investment Management Co LLC raised its stake in Mercer International by 1.4% in the fourth quarter. Merrion Investment Management Co LLC now owns 429,109 shares of the basic materials company’s stock worth $5,145,000 after buying an additional 5,800 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Mercer International by 36.6% during the fourth quarter. SG Americas Securities LLC now owns 33,683 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 9,023 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Mercer International by 284.6% during the fourth quarter. BNP Paribas Arbitrage SA now owns 124,704 shares of the basic materials company’s stock valued at $1,495,000 after purchasing an additional 92,282 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Mercer International by 42.4% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 48,387 shares of the basic materials company’s stock valued at $580,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Mercer International during the first quarter valued at approximately $152,000. 75.80% of the stock is owned by institutional investors.

Mercer International Company Profile

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Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.

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