Mercer International (NASDAQ:MERC) Reaches New 52-Week Low at $9.06

Posted by on Apr 23rd, 2023

Shares of Mercer International Inc. (NASDAQ:MERC – Get Rating) (TSE:MRI.U) hit a new 52-week low during trading on Friday . The stock traded as low as $9.06 and last traded at $9.09, with a volume of 20773 shares trading hands. The stock had previously closed at $9.30.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MERC. Royal Bank of Canada dropped their price target on Mercer International from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 21st. Credit Suisse Group decreased their price objective on shares of Mercer International from $15.50 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday. CIBC downgraded shares of Mercer International from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research report on Monday, January 9th. Finally, StockNews.com assumed coverage on shares of Mercer International in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Mercer International has a consensus rating of “Hold” and an average target price of $15.50.

Mercer International Stock Down 2.3 %

The company has a market cap of $603.76 million, a P/E ratio of 2.45 and a beta of 1.49. The company has a quick ratio of 1.92, a current ratio of 3.12 and a debt-to-equity ratio of 1.61. The business’s 50 day moving average is $10.14 and its 200 day moving average is $11.98.

Mercer International (NASDAQ:MERC – Get Rating) (TSE:MRI.U) last released its earnings results on Thursday, February 16th. The basic materials company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.19). Mercer International had a return on equity of 32.09% and a net margin of 10.83%. The company had revenue of $583.06 million for the quarter, compared to analysts’ expectations of $495.94 million. During the same period in the prior year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Mercer International Inc. will post 1.35 earnings per share for the current fiscal year.

Mercer International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 29th were given a $0.075 dividend. The ex-dividend date was Tuesday, March 28th. This represents a $0.30 annualized dividend and a yield of 3.30%. Mercer International’s dividend payout ratio is presently 8.09%.

Institutional Investors Weigh In On Mercer International

Institutional investors have recently added to or reduced their stakes in the stock. Lansing Street Advisors acquired a new position in Mercer International in the third quarter valued at approximately $34,000. OLD Mission Capital LLC acquired a new stake in shares of Mercer International during the 4th quarter worth about $63,000. Mutual of America Capital Management LLC increased its position in shares of Mercer International by 18.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 8,030 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 1,255 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Mercer International in the 3rd quarter valued at about $105,000. Finally, Navellier & Associates Inc. acquired a new position in Mercer International in the 4th quarter valued at about $118,000. Institutional investors and hedge funds own 78.22% of the company’s stock.

Mercer International Company Profile

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Mercer International, Inc engages in the manufacture and sale of pulp. It operates through Pulp and Wood Products segments. The Pulp segment consists of the manufacture, sales, and distribution of NBSK pulp, electricity, and other by-products at three pulp mills. The Wood Products segment is involved in the manufacture, sale, and distribution of lumber, electricity and other wood residuals at the Friesau Facility.

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