Shares of Linamar Co. (TSE:LNR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$72.53 and last traded at C$72.18, with a volume of 40,043 shares trading hands. The stock had previously closed at C$71.56.
A number of analysts have recently issued reports on the stock. TD Securities lowered their target price on shares of Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Thursday, August 3rd. BMO Capital Markets set a C$70.00 target price on shares of Linamar and gave the company a “market perform” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of Linamar from C$71.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Linamar presently has a consensus rating of “Hold” and a consensus target price of C$74.00.
The company has a market capitalization of $4.70 billion and a PE ratio of 8.72. The stock’s 50 day moving average price is $68.94 and its 200 day moving average price is $63.53.
Linamar (TSE:LNR) last announced its earnings results on Wednesday, August 2nd. The company reported C$2.45 EPS for the quarter, beating analysts’ consensus estimates of C$2.35 by C$0.10. Linamar had a return on equity of 22.89% and a net margin of 9.17%. The company had revenue of C$1.77 billion during the quarter, compared to analysts’ expectations of C$1.71 billion. On average, equities research analysts predict that Linamar Co. will post $8.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Wednesday, August 23rd. This is a boost from Linamar’s previous quarterly dividend of $0.10.
In other Linamar news, Director William Harrison sold 5,000 shares of Linamar stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of C$63.75, for a total transaction of C$318,750.00. Also, insider Alexander Drolc sold 651 shares of Linamar stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of C$70.00, for a total value of C$45,570.00. In the last 90 days, insiders have sold 9,651 shares of company stock valued at $612,720.
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Linamar Company Profile
Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.
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