Raymond James Weighs in on Mercer International Inc.’s FY2023 Earnings (NASDAQ:MERC)

Mercer International Inc. (NASDAQ:MERCFree Report) (TSE:MRI.U) – Stock analysts at Raymond James dropped their FY2023 EPS estimates for Mercer International in a note issued to investors on Monday, February 5th. Raymond James analyst D. Swetlishoff now forecasts that the basic materials company will post earnings per share of ($3.08) for the year, down from their previous estimate of ($2.78). Raymond James has a “Market Perform” rating and a $8.50 price target on the stock. The consensus estimate for Mercer International’s current full-year earnings is ($2.78) per share. Raymond James also issued estimates for Mercer International’s Q4 2023 earnings at ($0.74) EPS.

A number of other equities analysts have also weighed in on the stock. CIBC upgraded shares of Mercer International from a “sector underperform” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Friday, January 12th. TD Securities lifted their target price on shares of Mercer International from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, November 6th. Finally, StockNews.com raised shares of Mercer International to a “sell” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.92.

View Our Latest Stock Analysis on Mercer International

Mercer International Stock Up 1.4 %

Shares of NASDAQ MERC opened at $7.76 on Thursday. The company’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $8.81. Mercer International has a 52-week low of $7.37 and a 52-week high of $12.77. The firm has a market cap of $516.23 million, a price-to-earnings ratio of -3.82 and a beta of 1.36. The company has a quick ratio of 2.40, a current ratio of 3.97 and a debt-to-equity ratio of 2.39.

Institutional Investors Weigh In On Mercer International

A number of large investors have recently modified their holdings of MERC. Rhumbline Advisers increased its position in shares of Mercer International by 10.3% in the 1st quarter. Rhumbline Advisers now owns 65,407 shares of the basic materials company’s stock valued at $912,000 after purchasing an additional 6,111 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Mercer International in the 1st quarter valued at approximately $155,000. Credit Suisse AG increased its position in shares of Mercer International by 9.1% in the 2nd quarter. Credit Suisse AG now owns 33,034 shares of the basic materials company’s stock valued at $434,000 after purchasing an additional 2,747 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Mercer International by 21.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 50,254 shares of the basic materials company’s stock valued at $618,000 after buying an additional 8,906 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Mercer International in the 3rd quarter valued at $173,000. 83.89% of the stock is owned by hedge funds and other 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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