Mercer International (NASDAQ:MERC) Shares Gap Down to $12.34

Mercer International Inc. (NASDAQ:MERCGet Rating) (TSE:MRI.U) shares gapped down before the market opened on Tuesday . The stock had previously closed at $12.34, but opened at $11.60. Mercer International shares last traded at $11.18, with a volume of 11,152 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on MERC. CIBC lowered shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Monday. StockNews.com lowered shares of Mercer International from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Finally, Royal Bank of Canada lowered shares of Mercer International from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $17.00 to $14.00 in a research note on Wednesday, December 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.00.

Mercer International Price Performance

The firm’s fifty day moving average price is $12.80 and its 200 day moving average price is $13.90. The firm has a market capitalization of $791.36 million, a PE ratio of 2.64 and a beta of 1.48. The company has a current ratio of 3.39, a quick ratio of 2.20 and a debt-to-equity ratio of 1.86.

Mercer International (NASDAQ:MERCGet Rating) (TSE:MRI.U) last released its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $532.81 million for the quarter. Mercer International had a net margin of 13.60% and a return on equity of 41.10%. As a group, equities analysts forecast that Mercer International Inc. will post 3.84 earnings per share for the current year.

Mercer International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Wednesday, December 21st were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Tuesday, December 20th. Mercer International’s dividend payout ratio is currently 6.62%.

Hedge Funds Weigh In On Mercer International

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in shares of Mercer International by 18.3% in the 2nd quarter. New York State Teachers Retirement System now owns 25,236 shares of the basic materials company’s stock valued at $332,000 after purchasing an additional 3,900 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Mercer International by 18.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,054 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 2,031 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Mercer International in the 3rd quarter valued at $173,000. Quantbot Technologies LP acquired a new position in shares of Mercer International in the 1st quarter valued at $155,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Mercer International in the 4th quarter valued at $723,000. 78.22% of the stock is currently owned by institutional investors and hedge funds.

About Mercer International

(Get Rating)

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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