Mercer International (NASDAQ:MERC) Stock Crosses Above 200 Day Moving Average of $8.88

Mercer International Inc. (NASDAQ:MERCGet Free Report) (TSE:MRI.U)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.88 and traded as high as $9.96. Mercer International shares last traded at $9.79, with a volume of 126,303 shares changing hands.

Wall Street Analysts Forecast Growth

MERC has been the topic of several recent research reports. Royal Bank of Canada raised their price objective on shares of Mercer International from $9.00 to $10.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. StockNews.com upgraded shares of Mercer International to a “sell” rating in a research note on Friday, March 15th. TD Securities decreased their price target on shares of Mercer International from $10.00 to $9.50 and set a “hold” rating on the stock in a research note on Tuesday, February 20th. CIBC raised Mercer International from a “sector underperform” rating to a “neutral” rating and lifted their price objective for the company from $8.00 to $9.00 in a report on Friday, January 12th. Finally, Raymond James lifted their price objective on Mercer International from $7.50 to $8.50 and gave the company a “market perform” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, Mercer International presently has an average rating of “Hold” and a consensus price target of $9.17.

Get Our Latest Stock Report on MERC

Mercer International Price Performance

The firm has a market capitalization of $651.33 million, a P/E ratio of -2.69 and a beta of 1.37. The company has a quick ratio of 2.37, a current ratio of 3.82 and a debt-to-equity ratio of 2.53. The stock has a fifty day moving average of $8.84 and a 200-day moving average of $8.88.

Mercer International (NASDAQ:MERCGet Free Report) (TSE:MRI.U) last announced its quarterly earnings data on Friday, February 16th. The basic materials company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.06). The firm had revenue of $470.50 million for the quarter, compared to the consensus estimate of $508.46 million. Mercer International had a negative return on equity of 29.17% and a negative net margin of 12.14%. The business’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities analysts predict that Mercer International Inc. will post -0.63 EPS for the current fiscal year.

Mercer International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.30 annualized dividend and a yield of 3.06%. Mercer International’s dividend payout ratio is currently -8.24%.

Hedge Funds Weigh In On Mercer International

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SNC grew its position in shares of Mercer International by 29.1% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 6,396 shares of the basic materials company’s stock worth $52,000 after buying an additional 1,440 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Mercer International in the 4th quarter valued at approximately $99,000. Quantbot Technologies LP acquired a new position in shares of Mercer International in the 1st quarter valued at approximately $155,000. Amalgamated Bank grew its position in shares of Mercer International by 19.6% in the 3rd quarter. Amalgamated Bank now owns 13,291 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 2,182 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Mercer International in the 3rd quarter valued at approximately $173,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Company Profile

(Get Free Report)

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.

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